Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 16 Feb 2018 My Price 6.00

Petrock Corporation

Information concerning the capital structure of the Petrock Corporation is as follows:

During 2014, Petrock paid dividends of $1 per share on its common stock and $2.40 per share on its preferred stock. The preferred stock is convertible into 20,000 shares of common stock. The 8% convertible bonds are convertible into 30,000 shares of common stock. The net income for the year ending December 31, 2014, was $285,000, and the company’s income tax rate was 40%.

Required:

1. What was basic EPS for 2014, rounded to the nearest penny?

2. What was diluted EPS for 2014, rounded to the nearest penny?

Answers

Maurice Tutor
(5)
Status NEW Posted 16 Feb 2018 04:02 PM My Price 6.00

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