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Splish Inc. had net income for the current year ending December 31, 2023 of $1,158,600. During the entire year, there were 500,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.60 cumulative shares of which 11,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 105,000 $5.60 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Splish had outstanding a $1,000,000, 8% bond issued in 2012 that was convertible to 22,000 common shares. The company also had outstanding a $1,000,000, 6% bond issued in 2013 that was convertible to 25,000 common shares. No dividends were declared or paid this year. Splish's tax rate is 39%.

Splish Inc. had net income for the current year ending December 31, 2023 of $1,158,600. During the entire year, there were 500,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.60 cumulative shares of which 11,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 105,000 $5.60 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Splish had outstanding a $1,000,000, 8% bond issued in 2012 that was convertible to 22,000 common shares. The company also had outstanding a $1,000,000, 6% bond issued in 2013 that was convertible to 25,000 common shares. No dividends were declared or paid this year. Splish's tax rate is 39%.

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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Ef 62.

(k) Calculate EPS. (Round calculations of EPS to 3 decimal places, e.g. 3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Basic Sub Total Sub Total < Diluted EPS > $ $ Numerator Calculate diluted EPS. (Round answer to 2 decimal places, e.g. 3.54.) Denominator $ EPS
Transcribed Image Text:(k) Calculate EPS. (Round calculations of EPS to 3 decimal places, e.g. 3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Basic Sub Total Sub Total < Diluted EPS > $ $ Numerator Calculate diluted EPS. (Round answer to 2 decimal places, e.g. 3.54.) Denominator $ EPS
View Policies Show Attempt History Current Attempt in Progress Splish Inc. had net income for the current year ending December 31, 2023 of $1,158,600. During the entire year, there were 500,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.60 cumulative shares of which 11,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 105,000 $5.60 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Splish had outstanding a $1,000,000, 8% bond issued in 2012 that was convertible to 22,000 common shares. The company also had outstanding a $1,000,000, 6% bond issued in 2013 that was convertible to 25,000 common shares. No dividends were declared or paid this year. Splish's tax rate is 39%.
Transcribed Image Text:View Policies Show Attempt History Current Attempt in Progress Splish Inc. had net income for the current year ending December 31, 2023 of $1,158,600. During the entire year, there were 500,000 common shares outstanding. The company had two classes of preferred shares outstanding: the Class A preferred shares were $2.60 cumulative shares of which 11,000 were outstanding, and were convertible to common shares at a rate of 1:1. There were 105,000 $5.60 Class B non-cumulative preferred shares outstanding that were also convertible at a rate of 1:1. Splish had outstanding a $1,000,000, 8% bond issued in 2012 that was convertible to 22,000 common shares. The company also had outstanding a $1,000,000, 6% bond issued in 2013 that was convertible to 25,000 common shares. No dividends were declared or paid this year. Splish's tax rate is 39%.
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