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Current Attempt in Progress During 2013, Blue Inc., a furniture store, issued two different series of bonds, details of which follow: First issue: 610 $100,9% bonds, at par, each convertible into 6 common shares. Second issue: 250 $100,7% bonds, at par, each convertible into 2 common shares. For the year ended December 31, 2023, the company had net income of $76,860. Throughout 2023, 3,000 common shares were outstanding; none of the bonds were converted or redeemed. The company's tax rate was 20%. Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ eTextbook and Media Calculate the after-tax interest paid on the 9% bond. Incremental per share eTextbook and Media $ Calculate an incremental per share effect for the 9% bonds. (Round EPS to 3 decimal places, e.g. 15.254) Incremental Potentially dilutive security 9% Bonds $ Numerator Effect Incremental Denominator Effect $ EPS

Current Attempt in Progress During 2013, Blue Inc., a furniture store, issued two different series of bonds, details of which follow: First issue: 610 $100,9% bonds, at par, each convertible into 6 common shares. Second issue: 250 $100,7% bonds, at par, each convertible into 2 common shares. For the year ended December 31, 2023, the company had net income of $76,860. Throughout 2023, 3,000 common shares were outstanding; none of the bonds were converted or redeemed. The company's tax rate was 20%. Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ eTextbook and Media Calculate the after-tax interest paid on the 9% bond. Incremental per share eTextbook and Media $ Calculate an incremental per share effect for the 9% bonds. (Round EPS to 3 decimal places, e.g. 15.254) Incremental Potentially dilutive security 9% Bonds $ Numerator Effect Incremental Denominator Effect $ EPS

FINANCIAL ACCOUNTING
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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Current Attempt in Progress During 2013, Blue Inc., a furniture store, issued two different series of bonds, details of which follow: First issue: 610 $100,9% bonds, at par, each convertible into 6 common shares. Second issue: 250 $100,7% bonds, at par, each convertible into 2 common shares. For the year ended December 31, 2023, the company had net income of $76,860. Throughout 2023, 3,000 common shares were outstanding; none of the bonds were converted or redeemed. The company's tax rate was 20%. Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ eTextbook and Media Calculate the after-tax interest paid on the 9% bond. Incremental per share eTextbook and Media $ Calculate an incremental per share effect for the 9% bonds. (Round EPS to 3 decimal places, e.g. 15.254.) Potentially dilutive security 9% Bonds Incremental Numerator Effect $ Incremental Denominator Effect EPS $
Transcribed Image Text:Current Attempt in Progress During 2013, Blue Inc., a furniture store, issued two different series of bonds, details of which follow: First issue: 610 $100,9% bonds, at par, each convertible into 6 common shares. Second issue: 250 $100,7% bonds, at par, each convertible into 2 common shares. For the year ended December 31, 2023, the company had net income of $76,860. Throughout 2023, 3,000 common shares were outstanding; none of the bonds were converted or redeemed. The company's tax rate was 20%. Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ eTextbook and Media Calculate the after-tax interest paid on the 9% bond. Incremental per share eTextbook and Media $ Calculate an incremental per share effect for the 9% bonds. (Round EPS to 3 decimal places, e.g. 15.254.) Potentially dilutive security 9% Bonds Incremental Numerator Effect $ Incremental Denominator Effect EPS $
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