Blossom Co. had 190000 shares of common stock, 21000 shares of convertible preferred stock, and $1480000 of 6% convertible bonds outstanding during 2025. The preferred stock is convertible into 40800 shares of common stock. During 2025, Blossom paid dividends of $0.80 per share on the common stock and $3 per share on the preferred stock. Each $1000 bond is convertible into 30 shares of common stock. Blossom's net income for 2025 was $602000 and its income tax rate was 35%. Diluted earnings per share for 2025 was O $2.40. O $2.15. O $2.61. O $2.19.
Blossom Co. had 190000 shares of common stock, 21000 shares of convertible preferred stock, and $1480000 of 6% convertible bonds outstanding during 2025. The preferred stock is convertible into 40800 shares of common stock. During 2025, Blossom paid dividends of $0.80 per share on the common stock and $3 per share on the preferred stock. Each $1000 bond is convertible into 30 shares of common stock. Blossom's net income for 2025 was $602000 and its income tax rate was 35%. Diluted earnings per share for 2025 was O $2.40. O $2.15. O $2.61. O $2.19.
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 10MC
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![Blossom Co. had 190000 shares of common stock, 21000 shares of convertible preferred stock, and $1480000 of 6% convertible
bonds outstanding during 2025. The preferred stock is convertible into 40800 shares of common stock. During 2025, Blossom paid
dividends of $0.80 per share on the common stock and $3 per share on the preferred stock. Each $1000 bond is convertible into 30
shares of common stock. Blossom's net income for 2025 was $602000 and its income tax rate was 35%.
Diluted earnings per share for 2025 was
$2.40.
O $2.15.
O $2.61.
O $2.19.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F21a4f907-aa38-4c82-a3ba-4693caa353b8%2Fa894afa2-f35f-44f4-beed-83807a2b1c24%2F2zbew68_processed.png&w=3840&q=75)
Transcribed Image Text:Blossom Co. had 190000 shares of common stock, 21000 shares of convertible preferred stock, and $1480000 of 6% convertible
bonds outstanding during 2025. The preferred stock is convertible into 40800 shares of common stock. During 2025, Blossom paid
dividends of $0.80 per share on the common stock and $3 per share on the preferred stock. Each $1000 bond is convertible into 30
shares of common stock. Blossom's net income for 2025 was $602000 and its income tax rate was 35%.
Diluted earnings per share for 2025 was
$2.40.
O $2.15.
O $2.61.
O $2.19.
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