Net income Average market price of common stock Tax rate Number of common shares outstanding ($1 par) at 1-Jan-2024 Number of 3% non-cumulative preferred shares outstanding ($45 par) at year-end Each share of preferred shares is convertible into 2 shares of common stock Total Dividends Paid during 2024 1,400,000 31 23% 280,000 55,000 156,500 Additional Information on Stock Transactions On April 1, 2024, Azteca Corp repurchased 27 thousand previously issued shares. On September 1, Azteca Corp sold and issued an additional 17.5 thousand shares of common stock at $30.
Net income Average market price of common stock Tax rate Number of common shares outstanding ($1 par) at 1-Jan-2024 Number of 3% non-cumulative preferred shares outstanding ($45 par) at year-end Each share of preferred shares is convertible into 2 shares of common stock Total Dividends Paid during 2024 1,400,000 31 23% 280,000 55,000 156,500 Additional Information on Stock Transactions On April 1, 2024, Azteca Corp repurchased 27 thousand previously issued shares. On September 1, Azteca Corp sold and issued an additional 17.5 thousand shares of common stock at $30.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not Give image format
Transcribed Image Text:Azteca Corp Co. is a manufacturer and distributer of precision navigation and guidance
equipment. The following is information about the company's earnings and securities on
31 December 2024.
(Note: round all per share values to three decimal places)
Earnings and Shares
Net income
Average market price of common stock
Tax rate
Number of common shares outstanding ($1 par) at 1-Jan-2024
Number of 3% non-cumulative preferred shares outstanding ($45 par) at
year-end
Bonds
Series A Convertible
Series B Convertible
Options and Warrants
Number of shares issuable
Exercise price
Face/Carrying Value Int Rate
750,000
5%
650,000
4%
Each share of preferred shares is convertible into 2 shares of common
stock
Total Dividends Paid during 2024
Additional Information on Stock Transactions
On April 1, 2024, Azteca Corp repurchased 27 thousand previously issued shares.
On September 1, Azteca Corp sold and issued an additional 17.5 thousand shares of
common stock at $30.
Options
15,000
33
1,400,000
31
Warrants
12,000
23%
27
280,000
55,000
Shares Issuable per
$1,000 Bond
10
10
156,500
Transcribed Image Text:Required: Calculate Weighted Average Shares Outstanding
Required: Calculate Basic EPS
Net income
Preferred dividends paid
Income available to common stockholders (IACS)
Weighted average common shares
Basic EPS
Required: Calculate diluted EPS
Item
Diluted EPS
IACS
Shares
EPS
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