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Panca Corporation is the parent company of Sekawan Corporation, with 90% of ownership. The following data is available for 2019:   Sekawan's preferred stock is cumulative and convertible into 21,000 shares of Panca common stock and Panca and Sekawan do not have any other potentially dilutive securities outstanding. Required: a. Panca's basic EPS b. Panca’s diluted EPS

Panca Corporation is the parent company of Sekawan Corporation, with 90% of ownership. The following data is available for 2019:   Sekawan's preferred stock is cumulative and convertible into 21,000 shares of Panca common stock and Panca and Sekawan do not have any other potentially dilutive securities outstanding. Required: a. Panca's basic EPS b. Panca’s diluted 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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Panca Corporation is the parent company of Sekawan Corporation, with 90% of ownership. The following data is available for 2019:

 

Sekawan's preferred stock is cumulative and convertible into 21,000 shares of Panca common stock and Panca and Sekawan do not have any other potentially dilutive securities outstanding.

Required:
a. Panca's basic EPS
b. Panca’s diluted EPS

Sekawan Rp4,500,000 Rp3,000,000 45,000 Panca Income for 2019 (investment income excluded) Preferred dividends for 2019 Common dividends for 2019 60,000 Number of common shares outstanding Number of 10%, Rp150 par preferred shares outstanding 200,000 25,000 3,000
Transcribed Image Text:Sekawan Rp4,500,000 Rp3,000,000 45,000 Panca Income for 2019 (investment income excluded) Preferred dividends for 2019 Common dividends for 2019 60,000 Number of common shares outstanding Number of 10%, Rp150 par preferred shares outstanding 200,000 25,000 3,000
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