Crane Co. had 195000 shares of common stock, 19300 shares of convertible preferred stock, and $1498000 of 6% convertible bondsoutstanding during 2025. The preferred stock is convertible into 40400 shares of common stock. During 2025, Crane paid dividends of$0.80 per share on the common stock and $4 per share on the preferred stock. Each $1000 bond is convertible into 30 shares ofcommon stock. Crane's net income for 2025 was $593000 and its income tax rate was 30%.Basic earnings per share for 2025 isO $2.44.O $2.65.O $2.52.O $2.32.

The question is based on the concept of Financial Accounting. EPS is calculated by dividing the…

Crane Co. had 195000 shares of common stock, 19300 shares of convertible preferred stock, and $1498000 outstanding during 2025. The preferred stock is convertible into 40400 shares of common stock. During 202 $0.80 per share on the common stock and $4 per share on the preferred stock. Each $1000 bond is convertib common stock. Crane's net income for 2025 was $593000 and its income tax rate was 30%. Basic earnings per share for 2025 is O $2.44. O $2.65. O $2.52

Crane Co. had 195000 shares of common stock, 19300 shares of convertible preferred stock, and $1498000 outstanding during 2025. The preferred stock is convertible into 40400 shares of common stock. During 202 $0.80 per share on the common stock and $4 per share on the preferred stock. Each $1000 bond is convertib common stock. Crane's net income for 2025 was $593000 and its income tax rate was 30%. Basic earnings per share for 2025 is O $2.44. O $2.65. O $2.52

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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