Exercise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9]Information from the financial statements of Ames Fabricators, Inc., included the following:Common sharesConvertible preferred shares(convertible into 34,000 shares of common)10% convertible bonds(convertible into 20,000 shares of common)Basic EPSDiluted EPSNumerator 111Denominator =Ames's net income for the year ended December 31, 2018, is $520,000. The income tax rate is 40%. Ames paid dividends of $5 pershare on its preferred stock during 2018.=December 31Required:Compute basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in thousands.)=2018100,000Earnings per Share13, 200$1,000,0002017100,00013, 200$1,000,000

Earnings Per Share -A company's profitability is assessed using its earnings per share. It can be…

rcise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9 mation from the financial statements of Ames Fabricators, Inc., included the following: mmon shares Convertible preferred shares (convertible into 34,000 shares of common) 10% convertible bonds. (convertible into 20,000 shares of common) December 31 2018 100,000 13,200 $1,000,000 $1,000,000 2017 100,000 13,200 s's net income for the year ended December 31, 2018, is $520,000. The income tax rate is 40%. Ames paid dividends on its preferred stock during 2018. uired: pute basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in thousands

rcise 19-21 EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9 mation from the financial statements of Ames Fabricators, Inc., included the following: mmon shares Convertible preferred shares (convertible into 34,000 shares of common) 10% convertible bonds. (convertible into 20,000 shares of common) December 31 2018 100,000 13,200 $1,000,000 $1,000,000 2017 100,000 13,200 s's net income for the year ended December 31, 2018, is $520,000. The income tax rate is 40%. Ames paid dividends on its preferred stock during 2018. uired: pute basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in thousands

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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