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.              Applewood Electronics ltd reported net earnings of $ 500 000 for the year ending December 31,2019. The company had 250 000 shares of $1 par value common stock and 60 000 shares of $20 par value convertible preference shares outstanding during the year. The dividend rate on the preference was $3 per share. Each share of the convertible preferences shares can be converted into two shares of common shares   Required:  Calculate for the firm:   i.        the basic earnings per share for 2019.                                                      ii. the diluted EPS. for 2019.

.              Applewood Electronics ltd reported net earnings of $ 500 000 for the year ending December 31,2019. The company had 250 000 shares of $1 par value common stock and 60 000 shares of $20 par value convertible preference shares outstanding during the year. The dividend rate on the preference was $3 per share. Each share of the convertible preferences shares can be converted into two shares of common shares   Required:  Calculate for the firm:   i.        the basic earnings per share for 2019.                                                      ii. the diluted EPS. for 2019.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
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A.              Applewood Electronics ltd reported net earnings of $ 500 000 for the year ending December 31,2019. The company had 250 000 shares of $1 par value common stock and 60 000 shares of $20 par value convertible preference shares outstanding during the year. The dividend rate on the preference was $3 per share. Each share of the convertible preferences shares can be converted into two shares of common shares   Required:  Calculate for the firm:   i.        the basic earnings per share for 2019.                                                      ii. the diluted EPS. for 2019.                           
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