Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. your answer is correct. hanson co. had 200,000 or

Your answer is correct. Hanson Co. had 200,000 ordinary shares, 20,000 shares of convertible...

50.1K

Verified Solution

Question

Accounting

Your answer is correct.
Hanson Co. had 200,000 ordinary shares, 20,000 shares of convertible preference shares, and 1,000,000 of 10% convertible bonds
outstanding during 2022. The preference shares are convertible into 40,000 ordinary shares. During 2022, Hanson paid dividends of
1.20 per share on the ordinary shares and 4 per share on the preference shares. Each 1,000 bond is convertible into 45 ordinary
shares. The net income for 2022 was 800,000 and the income tax rate was 30%.
Diluted earnings per share for 2022 is (rounded to the nearest penny)
3.05.
2.81.
2.77.
3.33.
image

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Electrical Engineering
1.2K views

Consider Wein bridge oscillator. If R1 = 3R2 and C2 = 4C1, find the expression for...

Operations Management
1.2K views

Who will perform the audit plan for a hospital that treats cardiac care ? How many...

Statistics
1.2K views

What college football conference has the right to brag about putting players in down by...

Statistics
1.2K views

a What is a residual b In what sense is the regression line the straight...

Algebra
1.2K views

10 Exam Jan Feb 2023 If we rewrite the expression 2 log z 4 4...

Algebra
1.2K views

Simplify each expression 3 4 3a 7a 7 8a A 5a 17 B 5a 7a...

Algebra
1.2K views

Which function below has an asymptote at y b f x a b c g...

Accounting
1.2K views

Which of the following sequences describes cost flow in a job cost system? ...

Accounting
1.2K views

Shaylee Corp has $2.25 million to invest in new projects. The company's managers have presented...

Accounting
1.2K views

Identify two specific IT-related risks in computerized accounting information systems. Propose a strategy that might...

Accounting
1.2K views

Hans, a calendar-year taxpayer, purchased a new passenger automobile on August 17, 2019, for $50,000,...

Accounting
1.2K views

Zapple Manufacturing has the following information on its standard cost card for one of its...