Amy Dyken, controller at Windsor Pharmaceutical Industries, a public company, is currently preparing the calculation for basic anddiluted earnings per share and the related disclosure for Windsor's financial statements. Below is selected financial information for thefiscal year ended June 30, 2025.Long-term debtNotes payable, 10%9% convertible bonds payable10% bonds payableTotal long-term debtShareholders' equityPreferred stock, 5% cumulative, $50 par value, 109,000 shares authorized, 27,250 shares issued and outstandingCommon stock, $1 par, 9,800,000 shares authorized, 980,000 shares issued and outstandingAdditional paid-in capitalRetained earningsTotal shareholders' equityThe following transactions have also occurred at Windsor.1.2.3.4.Windsor Pharmaceutical IndustriesSelected Balance Sheet InformationJune 30, 20255.6.$1,000,0005,050,0005,920,000$11,970,000$1,362,500980,0003,930,0006,050,000$12,322,500Options were granted on July 1, 2024, to purchase 220,000 shares at $14 per share. Although no options were exercisedduring fiscal year 2025, the average price per common share during fiscal year 2025 was $20 per share.Each bond was issued at face value. The 9% convertible bonds will convert into common stock at 50 shares per $1,000 bond.The bonds are exercisable after 5 years and were issued in fiscal year 2024.The preferred stock was issued in 2024.There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year 2025.The 980,000 shares of common stock were outstanding for the entire 2025 fiscal year.Net income for fiscal year 2025 was $1,480,000, and the average income tax rate is 20%. For the fiscal year ended June 30, 2025, calculate the following for Windsor Pharmaceutical Industries. (Round answers to 2 decimalplaces, e.g. 2.45.)a. Basic earnings per share.Basic earnings per share $b. Diluted earnings per share.Diluted earnings per share $

Earnings per share is the money earned per outstanding share of the entity. It is computed by the…

For the fiscal year ended June 30, 2025, calculate the following for Windsor Pharmaceutical Industries. (Round answers to 2 decimal places, e.g. 2.45.) a. Basic earnings per share. Basic earnings per share $ b. Diluted earnings per share. Diluted earnings per share $

For the fiscal year ended June 30, 2025, calculate the following for Windsor Pharmaceutical Industries. (Round answers to 2 decimal places, e.g. 2.45.) a. Basic earnings per share. Basic earnings per share $ b. Diluted earnings per share. Diluted earnings per share $

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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