Monsters Inc. had $700,000 net income for the fiscal year ended on 12/31/2020. On1/1 2020, there were 200,000 shares of common stock outstanding. On 4/1/2020,20,000 shares were issued. On 9/1/2020, Monsters bought back 30,000 shares astreasury stock. The corporate tax rate is 40%.At the beginning of 2020 there are 30,000 options outstanding to buy common stockat the exercise price of $40 a share; these options were not exercised during 2020.The market price of the common stock averaged $50 during 2020.At the beginning of 2020, there were also 40,000 shares of convertible cumulativepreferred stock outstanding. The preferred stock is $100 par per share, pays $3.50dividend per share per year, and is convertible into three shares of common stock.None of these preferred shares were converted during 2020.Monsters issued $2,000,000 of 8% convertible bonds at par during 2019. Each bondof $1,000 is convertible into 30 shares of common stock. None of the bonds wereconverted or retired by the end of 2020.[REQUIRED] Compute diluted earnings per share for the fiscal year ended on12/31/2020. Please round the diluted EPS numbers to the second decimal point (tothe nearest penny). Please show the process of calculating diluted EPS.

Diluted EPS = (Net Income before preferred dividend + After tax cost of interest) /(Common shares…

(REQUIRED] Compute diluted earnings per share for the fiscal year ended on 12/31/2020. Please round the diluted EPS numbers to the second decimal point (to the nearest penny). Please show the process of calculating diluted EPS.

(REQUIRED] Compute diluted earnings per share for the fiscal year ended on 12/31/2020. Please round the diluted EPS numbers to the second decimal point (to the nearest penny). Please show the process of calculating diluted EPS.

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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Projecting NOPAT and NOA Using Parsimonious Forecasting Method Following are Logitech's sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its fiscal year ended March 31, 2019 ($ thousands). Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Financial information Net sales Net operating profit after tax (NOPAT) Net operating assets (NOA) $2,091,242 158,522 428,867 Use the parsimonious method to forecast Logitech's sales, NOPAT, and NOA for fiscal years ended March 31, 2020 through 2023 using the following assumptions. Note: Complete the entire question in Excel (template provided above). Using Excel, format each answer to two decimal places. Use Increase Decimal or Decrease Decimal to adjust decimal places. Do not round answers. Then enter the answers into the provided spaces below with two decimal places_. Note: When completing the question…
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Blossom Corporation issued $3 million of 10-year, 6% callable convertible subordinated debentures on January 2, 2023. The debentures have a face value of $1,000, with interest payable annually. The current conversion ratio is 13:1, and in two years it will increase to 16:1. At the date of issue, the bonds were sold at 100 to yield a 6% effective interest rate. The bond discount is amortized using the effective interest method. Blossom's effective tax rate was 30%. Net income in 2023 was $7.0 million, and the company had 2 million shares outstanding during the entire year. For simplicity, ignore the requirement to record the debentures' debt and equity components separately.
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2) Ratios Based on the information given in picture #1, complete the following ratios for the last TWO years and indicate whether the trend is favorable or unfavorable. Note percentages and times should be to one decimal place (e.g. 14.8%; 5.8x) Liq./Solv. Ratios Current Yr. Prior Yr. Fav/Unfav. Current Ratio (X) {Total. Current Assets/ Total Current Liabilities} Quick Ratio (X) {Cash + Short term Investments + Current Receivables/ Current Liabilities} Day's Sales Uncollected (days) {Total Accounts Receivables / Sales x 365}
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Cullumber Inc.'s only temporary difference at the beginning and end of 2024 is caused by a $3.75 million deferred gain for tax purposes for an installment sale of a plant asset, and the related receivable (only one-half of which is classified as a current asset) is due in equal installments in 2025 and 2026. The related deferred tax liability at the beginning of the year is $1,125,000. In the third quarter of 2024, a new tax rate of 20% is enacted into law and is scheduled to become effective for 2026. Taxable income for 2024 is $6,250,000, and taxable income is expected in all future years.