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  3. celestial corporation, year 2020 net income $1,100

Celestial Corporation, Year 2020 Net Income $1,100,000 Capital Structure Common Shares Change January 1, 2020...

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Celestial Corporation, Year 2020 Net Income $1,100,000 Capital Structure Common Shares Change January 1, 2020 May 1, 2020 Issued Shares July 1, 2020 Stock Split 1.5-1 October 1,2020 Purchase of Treasury Stock 30,000 265,000 65,000 Cumulative Shares Outstanding 500,000 530,000 795,000 730,000 $3,000,000 Preferred Stock, Cumulative, 5%, $100 par 30,000 shares issued & outstanding (adjusted for split) Each share is convertible into ten common shares Convertible Bonds, 5,000 10-year, 5% bonds issued at par in 2015 $5,000,000 Each bond is convertible into twenty shares of common stock (adjusted for split) Other Information: Average market price per share of common stock during 2020 = $150 Income Tax Rate = 30% (A) Calculate Weighted Average Number of Shares. (B) Calculate Basic EPS for Celestial Corporation. Round EPS to the nearest penny. C) Calculate Diluted EPS for Celestial Corporation. Round Diluted EPS to the nearest penny

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