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Stober Corporation had 8 million shares of common stock outstanding during the current calendar year. On July 1, Stober issued ten thousand $1,000 face value, convertible bonds. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually for 20 years They have a stated rate of 12%. Stober had income before tax of $24 million and a net income of $18 million. Stober would report the following EPS data (rounded): a. b. C. d. Basic EPS Diluted EPS $ 2.25 $ 2.24 n/a $ 2.25 antidilutive $ 2.25 $ 2.25 Multiple Choice $ 2.16 $ 2.12 Option C Option B Option A

Stober Corporation had 8 million shares of common stock outstanding during the current calendar year. On July 1, Stober issued ten thousand $1,000 face value, convertible bonds. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually for 20 years They have a stated rate of 12%. Stober had income before tax of $24 million and a net income of $18 million. Stober would report the following EPS data (rounded): a. b. C. d. Basic EPS Diluted EPS $ 2.25 $ 2.24 n/a $ 2.25 antidilutive $ 2.25 $ 2.25 Multiple Choice $ 2.16 $ 2.12 Option C Option B Option A

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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Stober Corporation had 8 million shares of common stock outstanding during the current calendar year. On July 1, Stober issued ten thousand $1,000 face value, convertible bonds. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually for 20 years They have a stated rate of 12%. Stober had income before tax of $24 million and a net income of $18 million. Stober would report the following EPS data (rounded): a. b. C. d. Basic EPS Diluted EPS $ 2.25 $ 2.24 $ 2.25 $ 2.25 $ 2.25 n/a antidilutive $ 2.16 $ 2.12 Multiple Choice Option C Option B Option A < Prev 5 of 7 Noy >
Transcribed Image Text:Stober Corporation had 8 million shares of common stock outstanding during the current calendar year. On July 1, Stober issued ten thousand $1,000 face value, convertible bonds. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually for 20 years They have a stated rate of 12%. Stober had income before tax of $24 million and a net income of $18 million. Stober would report the following EPS data (rounded): a. b. C. d. Basic EPS Diluted EPS $ 2.25 $ 2.24 $ 2.25 $ 2.25 $ 2.25 n/a antidilutive $ 2.16 $ 2.12 Multiple Choice Option C Option B Option A < Prev 5 of 7 Noy >
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