The information below pertains to Monty Company for 2026. Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock 4% convertible, cumulative preferred stock, $100 par value; each share is convertible into 4 shares of common stock Common stock, $1 par value Tax rate for 2026 Average market price of common stock Basic earnings per share $ $8,440,00 5,080,00 (b) Compute diluted earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) 2,420,00 8,750,00 20 There were no changes during 2026 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 119,000 shares of common stock at $12 per share. (a) Compute basic earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) $17 per shar
The information below pertains to Monty Company for 2026. Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock 4% convertible, cumulative preferred stock, $100 par value; each share is convertible into 4 shares of common stock Common stock, $1 par value Tax rate for 2026 Average market price of common stock Basic earnings per share $ $8,440,00 5,080,00 (b) Compute diluted earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) 2,420,00 8,750,00 20 There were no changes during 2026 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 119,000 shares of common stock at $12 per share. (a) Compute basic earnings per share for 2026. (Round answer to 2 decimal places, e.g. 2.55.) $17 per shar
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 26P
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