Homework Quiz—11 S11 Section 3

Homework Quiz—11 S11 Section 3 - Homework...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Homework Quiz— 11 S11 Section 3 Name Section At 12/31/10 ABC Company had the following: a. 3,978,000 weighted average common shares outstanding for the calculation of Basic EPS. ABC’s common stock is $10 par. b. Net income of $8,689,000. For all of 2010 ABC Company had the following: c. 40,000 outstanding shares of 5.5%, $100 par convertible preferred stock. Each share of preferred convertible into 5 shares of ABC Common. d. $1,600,000 of 6.5% convertible bonds outstanding. Each $1,000 bond is convertible into 32 shares of ABC Common. e. 200,000 outstanding warrants. Each warrant is convertible into 1 share of ABC Common. The exercise price of each warrant is $40. The average price of ABC’s common stock during 2010 was $52. f. $3,000,000 of 8% bonds. g. Dividends of $1.60 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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Homework Quiz—11 S11 Section 3 - Homework...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online