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On January 1, 2023, Monty Corp. had 191,000 common shares outstanding. On April 1, 2023,...

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Accounting

On January 1, 2023, Monty Corp. had 191,000 common shares outstanding. On April 1, 2023, 19,100 common shares were issued and on September 1, 2023, Bernard bought back 29,100 treasury shares. The market price of the common shares averaged $50 during 2023. The corporations income tax rate is 40%.

During 2023, there were 29,100 call options to buy common shares at $40 a share outstanding; and there were 19,100, $8, no par value, cumulative and convertible preferred shares outstanding. Each preferred share is convertible into three common shares.

During 2022, the corporation had issued $1,900,000 of 8% convertible bonds at face value. Each $1,000 bond is convertible into 20 common shares.

The corporation reported $731,000 net income for calendar 2023. Post answers in table below. The answers filled in already are correct.

Security Net Income Adjustment Adjusted Net Income Shares Adjustment Adjusted Shares EPS
Common Shares 731,000 191,000 4625 195625
Options 0 195625
Preferred 731000 57300
Bonds 731000 91200 822200 38000

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