Please do not give solution in image format thanku The information below pertains to Pearl Company for 2026.Net income for the year5% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock4% convertible, cumulative preferred stock, $100 par value; each share is convertible into 4 shares of common stockCommon stock, $1 par valueTax rate for 2026Average market price of common stockBasic earnings per share $0.84(b) Compute diluted earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.)Diluted earnings per share $$8,200,0005,470,0002,580,000There were no changes during 2026 in the number of common shares, preferred shares, or convertible bonds outstanding. There is notreasury stock. The company also has common stock options (granted in a prior year) to purchase 114,000 shares of common stock at$12 per share.(a) Compute basic earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.)9,520,00020%$19 per share

Basic EPS: The basic EPS is the ratio of net income available for the shareholders and the weighted…

The information below pertains to Pearl Company for 2026. Net income for the year 5% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock 4% convertible, cumulative preferred stock, $100 par value; each share is convertible into 4 shares of common stock Common stock, $1 par value Tax rate for 2026 $8,200,000 5,470,000 2,580,000 9,520,000 20%

The information below pertains to Pearl Company for 2026. Net income for the year 5% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock 4% convertible, cumulative preferred stock, $100 par value; each share is convertible into 4 shares of common stock Common stock, $1 par value Tax rate for 2026 $8,200,000 5,470,000 2,580,000 9,520,000 20%

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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