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Earnings per share.Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000,...

This question was answered on Mar 21, 2010. View the Answer
Earnings per share.Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/11. During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%.InstructionsCompute the proper earnings per share for 2010.

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CH220310_5252_ACC.doc

Earnings per share. Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20­year, 7% bonds issued at par in 2008. Each $1,000...

This question was asked on Mar 21, 2010 and answered on Mar 21, 2010.

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