Business, 08.09.2020 14:01, kami23arap5p78v
Information from the financial statements of Ames Fabricators, Inc., included the following:
December 31
2016 2015
Common shares 100,000 100,000
Convertible preferred shares (convertible into 60,000 shares of common) 28,800 28,800
10% convertible bonds (convertible into 30,000 shares of common) $1,000,000 $1,000,000
Ames's net income for the year ended December 31, 2016, is $780,000. The income tax rate is 40%. Ames paid dividends of $5 per share on its preferred stock during 2016.
Required:
Compute basic and diluted earnings per share for the year ended December 31, 2016. (Enter your answers in thousands.)
Answers: 1
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Information from the financial statements of Ames Fabricators, Inc., included the following:
Decemb...
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