Class Specificatio WileyPLUS X myStanState Port Bb Ch 16 WP - 2019 + L- https://edugen.wileyplus.com/edugen/student/mainfr.uni Kieso, intermeaiate ACCounting, 16e INTERMED. ACCOUNTING (ACC 31I0/- Assignment Gradebook ORION Downloadable eTextbook nt CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 16-23 Your answer is partially correct. Try again. On June 1, 2015, Sage Company and Pronghorn Company merged to form Stellar Inc. A total of 876,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April 1, 2017, the company issued an additional 637,000 shares of stock for cash. All 1,513,000 shares were outstanding on December 31, 2017. Stellar Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2017. Each $1,000 bond converts to 44 shares of common at any interest date. None of the bonds have been converted to date. Stellar Inc. is preparing its annual report for the fiscal year ending December 31, 2017. The annual report will show earnings per share figures based upon a reported after-tax net income of $1,491,000. (The tax rate is 40%. ) Determine the following for 2017. (a) The number of shares to be used for calculating: (Round answers to 0 decimal places, e.g. $2,500.) (1) Basic earnings per share 1,353,750 shares (2) Diluted earnings per share 1,366,490 shares search 12:17 AM 10/1/2019 KA Print Screen F4 F5 F6 F7 Anse F8 F9 F10 F11 F12 & ) 0 4 6 7 8 9 II రN LO Class Specificatio WileyPLUS SmyStanState Port Bb Ch 16 WP - 2019 https://edugen.wileyplus.com/edugen/student/mainfr.uni to complete the merger. The new corporation reports on a calendar-year basis. On April 1, 2017, the company issued an additional 637,000 shares of stock for cash. All 1,513,000 shares were outstanding on December 31, 2017. Stellar Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2017. Each $1,000 bond converts to 44 shares of common at any interest date. None of the bonds have been converted to date. Stellar Inc. is preparing its annual report for the fiscal year ending December 31, 2017. The annual report will show earnings per share figures based upon a reported after-tax net income of $1,491,000. (The tax rate is 40%. ) Determine the following for 2017. (a) The number of shares to be used for calculating: (Round answers to 0 decimal places, e.g. 2,500.) (1) Basic earnings per share 1,353,750| shares (2) Diluted earnings per share shares 1,366,490 (b) The earnings figures to be used for calculating: (Round answers to 0 decimal places, e.g. $2,500.) (1) Basic earnings per share 1,491,000 (2) Diluted earnings per share 1,491,000 LINK TO TEXT VIDEO: SIMILAR EXERCISE Privacy Policy 2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24.15.6 12:17 AM ere to search 10/1/2019 A Print Screen F4 F5 F6 F7 F8 F9 F10 F11 F12 $ % &