URGENT. Only answer if within 2 hours since posted. Ignatius...
50.1K
Verified Solution
Link Copied!
Question
Accounting
URGENT. Only answer if within 2 hours since posted.
| Ignatius Corporation had 14 million shares of common stock outstanding during the current calendar year. It issued 23,000, $1,000, convertible bonds on January 1. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest quarterly at an annual rate of 11%. On June 30, Ignatius issued 230,000 shares of $100 par 6% cumulative preferred stock. Dividends are declared and paid semiannually. Ignatius has an effective tax rate of 40%. Ignatius would report the following EPS data (rounded to 2 decimal places) on its net income of $33 million: |
| Basic EPS | Diluted EPS | |
| a. | $2.41 | $2.18 |
| b. | $2.31 | $2.23 |
| c. | $2.36 | $2.18 |
| d. | $2.31 | $2.32 |
Option a
Option b
Option c
Option d
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
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.