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Wildhorse Corp. had $720,000 net income in 2025. On January 1, 2025, there were 210,000 shares of common stock outstanding. On April 1, 16,600 shares were issued and on September 1. Wildhorse bought 34,500 shares of treasury stock. There are 26,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2025. The tax rate is 40%. In 2025, there were 39,000 shares of convertible preferred stock outstanding. The preferred is $100 par, pays an annual dividend of $3.50 per share, and is convertible into three shares of common stock. Wildhorse issued $1,800,000 of 8% convertible bonds at face value during 2024. Each $1,000 bond is convertible into 30 shares of common stock. Complete the schedule and compute diluted earnings per share for 2025. (Round EPS answers to 2 decimal places, eg. 52.75 and other answers to O decimal places, eg. 5241. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Net Security Income Common Stock Adjustment Adjusted Net Income Shares Adjustment Adjusted Shares EPS Options Bonds Preferred

Wildhorse Corp. had $720,000 net income in 2025. On January 1, 2025, there were 210,000 shares of common stock outstanding. On April 1, 16,600 shares were issued and on September 1. Wildhorse bought 34,500 shares of treasury stock. There are 26,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2025. The tax rate is 40%. In 2025, there were 39,000 shares of convertible preferred stock outstanding. The preferred is $100 par, pays an annual dividend of $3.50 per share, and is convertible into three shares of common stock. Wildhorse issued $1,800,000 of 8% convertible bonds at face value during 2024. Each $1,000 bond is convertible into 30 shares of common stock. Complete the schedule and compute diluted earnings per share for 2025. (Round EPS answers to 2 decimal places, eg. 52.75 and other answers to O decimal places, eg. 5241. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Net Security Income Common Stock Adjustment Adjusted Net Income Shares Adjustment Adjusted Shares EPS Options Bonds Preferred

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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Current Attempt in Progress Wildhorse Corp. had $720,000 net income in 2025. On January 1, 2025, there were 210,000 shares of common stock outstanding. On April 1, 16,600 shares were issued and on September 1, Wildhorse bought 34,500 shares of treasury stock. There are 26,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2025. The tax rate is 40%. In 2025, there were 39,000 shares of convertible preferred stock outstanding. The preferred is $100 par, pays an annual dividend of $3.50 per share, and is convertible into three shares of common stock. Wildhorse issued $1,800,000 of 8% convertible bonds at face value during 2024. Each $1,000 bond is convertible into 30 shares of common stock. Complete the schedule and compute diluted earnings per share for 2025. (Round EPS answers to 2 decimal places, e.g. 52.75 and other answers to O decimal places, e.g. 5241. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Security Net Income Common Stock $ Options Bonds Preferred Adjustment Adjusted Net Income $ Shares Adjustment Adjusted Shares EPS
Transcribed Image Text:Current Attempt in Progress Wildhorse Corp. had $720,000 net income in 2025. On January 1, 2025, there were 210,000 shares of common stock outstanding. On April 1, 16,600 shares were issued and on September 1, Wildhorse bought 34,500 shares of treasury stock. There are 26,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2025. The tax rate is 40%. In 2025, there were 39,000 shares of convertible preferred stock outstanding. The preferred is $100 par, pays an annual dividend of $3.50 per share, and is convertible into three shares of common stock. Wildhorse issued $1,800,000 of 8% convertible bonds at face value during 2024. Each $1,000 bond is convertible into 30 shares of common stock. Complete the schedule and compute diluted earnings per share for 2025. (Round EPS answers to 2 decimal places, e.g. 52.75 and other answers to O decimal places, e.g. 5241. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Security Net Income Common Stock $ Options Bonds Preferred Adjustment Adjusted Net Income $ Shares Adjustment Adjusted Shares EPS
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