Business, 06.06.2020 01:01 elizabethxoxo3271
On January 1, 2020, Headland Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Headland common stock. Headland net income in 2020 was $473,800, and its tax rate was 20%. The company has 103,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020.
a. Compute diluted earnings per share for 2014.
b. Compute diluted earnings per share for 2014, assuming the same facts as above, except that
$1,000,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred
share is convertible into 5 shares of Crocker common stock.
Answers: 2
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On January 1, 2020, Headland Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $...
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