Business, 25.02.2021 18:30 emmanolan112

ABC Co. had 600,000 shares of Common Stock, 40,000 shares of Convertible Preferred Stock, and $3,000,000 of 6% Convertible Bonds outstanding during 2021. The Convertible Preferred Stock is convertible into 80,000 shares of Common Stock. During 2021, ABC Co. paid dividends of $4 per share on the Common Stock and $3 per share on the Convertible Preferred Stock. Each $1,000 Convertible Bond is convertible into 80 shares of Common Stock. The Net Income for 2021 was $1,600,000 and the income tax rate was 30%. Calculate basic earning per year of common stock for the year ended January1 31, 2104.
If company's preferred stock were convertiable into common stock what additional calculation would be required?

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ABC Co. had 600,000 shares of Common Stock, 40,000 shares of Convertible Preferred Stock, and $3,000...

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