Business, 15.08.2020 19:01 mattsucre1823
On June 30, Year 2, Lomond, Inc., issued 20, $10,000, 7% bonds at par. Each bond was convertible into 200 shares of common stock. On January 1, Year 3, 10,000 shares of common stock were outstanding. The bondholders converted all the bonds on July 1, Year 3. The following amounts were reported in Lomond’s income statement for the year ended December 31, Year 3:
Revenues $977,000
Operating expenses (920,000)
Interest on bonds (7,000)
Income before income tax 50,000
Income tax at 30% (15,000)
Net income $ 35,000
What amount should Lomond report as its Year 3 diluted earnings per share (DEPS)?
A. $3.00
B. $2.85
C. $3.50
D. $2.50
Answers: 3
Business, 22.06.2019 16:30
Why are there so many types of diversion programs for juveniles
Answers: 2
Business, 22.06.2019 17:20
States that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. rule of fair treatment due-process policy rule of law employment flexibility employment at will
Answers: 1
Business, 23.06.2019 00:00
The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows:
Answers: 2
On June 30, Year 2, Lomond, Inc., issued 20, $10,000, 7% bonds at par. Each bond was convertible int...
Mathematics, 14.12.2020 08:00
Medicine, 14.12.2020 08:00
English, 14.12.2020 08:00
Mathematics, 14.12.2020 08:00
English, 14.12.2020 08:00
Mathematics, 14.12.2020 08:00
Business, 14.12.2020 08:00
Engineering, 14.12.2020 08:00
Mathematics, 14.12.2020 08:00
Mathematics, 14.12.2020 08:00
Mathematics, 14.12.2020 08:00