On June 1. 2018. Concord Company and Marigold Company merged to form Swifty Inc. A...
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On June 1. 2018. Concord Company and Marigold Company merged to form Swifty Inc. A total of 802,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April 1. 2020, the company issued an additional 625,000 shares of stock for cash. All 1,427,000 shares were outstanding on December 31, 2020 Swifty Inc also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2020. Each $1.000 bond converts to 38 shares of common at any interestdate None of the bonds have been converted to date. Swifty Inc is preparing its annual report for the fiscal year ending December 31, 2020. The annual report will show earnings per share figures based upon a reported after-tax net income of $1,507.000. (The tax rate is 20%) Determine the following for 2020. (a) The number of shares to be used for calculating (Round answers to decimal places, es $2,500) (1) Basic earnings per share shares (22) Diluted earnings per share shares tb) The earnings heures to be used for calculating (Round answers to O decimal places es $2.500.) (1) Basic earnings per share $ (2) Diluted camins per share

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