Homework Quiz—11 S11 Section 1

Homework Quiz—11 S11 Section 1 - Homework...

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Homework Quiz— 11 S11 Section 1 Name Section At 12/31/10 ABC Company had the following: a. 3,428,000 weighted average common shares outstanding for the calculation of Basic EPS. ABC’s common stock is $20 par. b. Net income of $8,435,000. For all of 2010 ABC Company had the following: c. 25,000 outstanding shares of 6%, $100 par convertible preferred stock. Each share of preferred convertible into 4 shares of ABC Common. d. $1,200,000 of 5% convertible bonds outstanding. Each $1,000 bond is convertible into 35 shares of ABC Common. e. 130,000 outstanding warrants. Each warrant is convertible into 1 share of ABC Common. The exercise price of each warrant is $25. The average price of ABC’s common stock during 2010 was $32. f. $2,000,000 of 6% bonds. g. Dividends of $1.50 per share on the common stock were declared and paid. h. Tax rate is 40%. Assume all preferred dividend and bond interest payments were made. Required
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Homework Quiz—11 S11 Section 1 - Homework...

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