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Category > Accounting Posted 27 May 2017 My Price 7.00

Alciatore Company earned a net income of $150,000 in 2011

P 19-16 Alciatore Company earned a net income of $150,000 in 2011. The weighted-average number of common shares outstanding for 2011 was 40,000. The average stock price for 2011 was $33. Assume an income tax rate of 40%.

Required:
For each of the following independent situations, indicate whether the effect of the security is antidilutive for diluted EPS.
1. 10,000 shares of 7.7% of $100 par convertible, cumulative preferred stock. Each share may be converted into two common shares.
2. 8% convertible 10-year, $500,000 of bonds, issued at face value. The bonds are convertible to 5,000 shares of common stock.
3. Stock options exercisable at $30 per share after January 1, 2013.
4. Warrants for 1,000 common shares with an exercise price of $35 per share.
5. A contingent agreement to issue 5,000 shares of stock to the company president if net income is at least $125,000 in 2012.

Answers

Alpha Geek
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Status NEW Posted 27 May 2017 03:05 PM My Price 7.00

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Attachments

file 1495899664-Answer.docx preview (165 words )
P----------- 19------------16----------- Al-----------cia-----------tor-----------e C-----------omp-----------any----------- ea-----------rne-----------d a----------- ne-----------t i-----------nco-----------me -----------of -----------$15-----------0,0-----------00 -----------in -----------201-----------1. -----------The----------- we-----------igh-----------ted------------av-----------era-----------ge -----------num-----------ber----------- of----------- co-----------mmo-----------n s-----------har-----------es -----------out-----------sta-----------ndi-----------ng -----------for----------- 20-----------11 -----------was----------- 40-----------,00-----------0. -----------The----------- av-----------era-----------ge -----------sto-----------ck -----------pri-----------ce -----------for----------- 20-----------11 -----------was----------- $3-----------3. -----------Ass-----------ume----------- an----------- in-----------com-----------e t-----------ax -----------rat-----------e o-----------f 4-----------0%.-----------Req-----------uir-----------ed:-----------For----------- ea-----------ch -----------of -----------the----------- fo-----------llo-----------win-----------g i-----------nde-----------pen-----------den-----------t s-----------itu-----------ati-----------ons-----------, i-----------ndi-----------cat-----------e w-----------het-----------her----------- th-----------e e-----------ffe-----------ct -----------of -----------the----------- se-----------cur-----------ity----------- is----------- an-----------tid-----------ilu-----------tiv-----------e f-----------or -----------dil-----------ute-----------d E-----------PS.-----------1. -----------10,-----------000----------- sh-----------are-----------s o-----------f 7-----------.7%----------- of----------- $1-----------00 -----------par----------- co-----------nve-----------rti-----------ble-----------, c-----------umu-----------lat-----------ive----------- pr-----------efe-----------rre-----------d s-----------toc-----------k.
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