On January 2, 2021, Concord Corporation issued at par $2060000 of 5% convertible bonds. Each...
80.2K
Verified Solution
Link Copied!
Question
Accounting
On January 2, 2021, Concord Corporation issued at par $2060000 of 5% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2021. Concord had 193000 shares of common stock outstanding during 2021. Concords 2021 net income was $909000 and the income tax rate was 25%. Concords diluted earnings per share for 2021 would be (rounded to the nearest penny): $5.06. $4.71. $4.76. $4.62.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.