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Bush Inc. had the following capital structure during2014: Convertible Preferred stock, $10 par, 4% noncumulative, 25.000 shares issued & outstanding, convertible to 2 shares of common stock. Common stock $5 par 200,000 shares issued & outstanding. Bush had $500,000 net income for 2014 and did not pay the preferred dividends. What amount should Bush report as diluted ? A. $2.00 b b. $2.45 c. $2.50 d $2.55 Cosco Company had 300,000 shares of common stock issued and outstanding at December 31, 2017. During 2018, no additional common stock was issued. On January 1, 2018, Cosco issued 400,000 shares of nonconvertible preferred stock. During 2018, Cosco declared and paid $180,000 cash dividends on the common stock and $150,000 on the nonconvertible preferred stock. Net income for the year ended December 31.2018 was $960.000. What should be Cosco's 2018 earnings per common share, rounded to the nearest penny? a. $1.16 b. $2.10 c. $2.70 d. $3.20 A lessee with a capital lease that the asset transfers back to the lesser should depreciate the leased asset ever the a. asset's remaining economic life. b. term of the lease. c. life of the asset or the term of the lease, whichever is shorter. d. life of the asset or the term of the lease, whichever is longer One criterion for a capital lease is that the term of the lease must equal a minimum percentage of the leased property's economic life at the inception of the lease. What is this minimum percentage? a. 90% b. 80% c. 75% d 51%

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