please answer asap for a good rating During 2024. Angel Corporation had...
80.2K
Verified Solution
Link Copied!
Question
Accounting
please answer asap for a good rating 
During 2024. Angel Corporation had 950,000 shares of common stock and 100,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $370,000 and $185,000 to fommon and preferred shareholders, respectively, during 2024. On January 1,2023 , Angel issued $2,070,000 of convertible 7% bonds at face value. Each $1,000 bond is convertible into five common shares. Angel's net income for the year ended December 31,2024 , was $6.00 million. The income tax rate is 25%. What will Angel report as diluted earnings per share for 2024 , rounded to the nearest cent? Multiple Choice $56.36 $6.25 None of these answer choices are correct
please answer asap for a good rating
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.