6. Thistle Limited has the following information at 31 December 20X5. • 1,000,000 common shares outstanding with the par value of $0.50. Net income for the year is $1,330,000. Net income attributable to equity holders of the company is $1,230,000. Net income attributable to non-controlling interest of the subsidiaries is $100,000. • Options of 500,000 shares with the exercise price of $3.25 per share. Convertible 10% bonds of $1,000,000 convertible in year 20X6 into 250,000 common shares. Convertible 8% preferred shares of $1 each totaling $1,000,000 convertible in year 20X7 at 1 common share for every 40 preferred shares. • Tax rate is 40%. Year-end market price per common share is $4.25. Average market price per common share is $4. a. Calculate basic earnings per share. b. Calculate diluted earnings per share by applying the procedure and sequential steps in the lecture note.

6. Thistle Limited has the following information at 31 December 20X5. • 1,000,000 common shares outstanding with the par value of $0.50. Net income for the year is $1,330,000. Net income attributable to equity holders of the company is $1,230,000. Net income attributable to non-controlling interest of the subsidiaries is $100,000. • Options of 500,000 shares with the exercise price of $3.25 per share. Convertible 10% bonds of $1,000,000 convertible in year 20X6 into 250,000 common shares. Convertible 8% preferred shares of $1 each totaling $1,000,000 convertible in year 20X7 at 1 common share for every 40 preferred shares. • Tax rate is 40%. Year-end market price per common share is $4.25. Average market price per common share is $4. a. Calculate basic earnings per share. b. Calculate diluted earnings per share by applying the procedure and sequential steps in the lecture note.

Name: 6. Thistle Limited has the following information at 31 December 20X5.
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Description: 6. Thistle Limited has the following information at 31 December 20X5.• 1,000,000 common shares outstanding with the par value of $0.50.Net income for the year is $1,330,000. Net income attributable toequity holders of the company is $1,230,000. Net

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 9PA: Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000...

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