Business, 07.05.2021 22:50 natkookie85

During 2021, Angel Corporation had 990,000 shares of common stock and 95,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $390,000 and $195,000 to common and preferred shareholders, respectively, during 2021. On January 1, 2020, Angel issued $2,090,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares. Angel's net income for the year ended December 31, 2021, was $7.35 million. The income tax rate is 25%. What is Angel's basic earnings per share for 2021, rounded to the nearest cent

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During 2021, Angel Corporation had 990,000 shares of common stock and 95,000 shares of 6% preferred...

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