On January 1, 2023, Monty Corp. had 206,000 common shares outstanding. On April 1, 2023, 20,600 common shares were issued and on September 1, 2023, Bernard bought back 30,600 treasury shares. The market price of the common shares averaged $50 during 2023. The corporation's income tax rate is 40%. During 2023, there were 30,600 call options to buy common shares at $40 a share outstanding; and there were 20,600, $8, no par value, cumulative and convertible preferred shares outstanding. Each preferred share is convertible into three common shares. During 2022, the corporation had issued $1,910,000 of 7% convertible bonds at face value. Each $1,000 bond is convertible into 20 common shares. The corporation reported $780,000 net income for calendar 2023. Post answers in table below Security Comon Shares Options Preferred Shares Bonds Net Income Adjustemt Adjusted Net Income Shares Adjustment Adjusted Shares EPS
On January 1, 2023, Monty Corp. had 206,000 common shares outstanding. On April 1, 2023, 20,600 common shares were issued and on September 1, 2023, Bernard bought back 30,600 treasury shares. The market price of the common shares averaged $50 during 2023. The corporation's income tax rate is 40%. During 2023, there were 30,600 call options to buy common shares at $40 a share outstanding; and there were 20,600, $8, no par value, cumulative and convertible preferred shares outstanding. Each preferred share is convertible into three common shares. During 2022, the corporation had issued $1,910,000 of 7% convertible bonds at face value. Each $1,000 bond is convertible into 20 common shares. The corporation reported $780,000 net income for calendar 2023. Post answers in table below Security Comon Shares Options Preferred Shares Bonds Net Income Adjustemt Adjusted Net Income Shares Adjustment Adjusted Shares EPS
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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