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Earnings per share. Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000,...
Earnings per share.Santana Corporation has 400,000 shares of common stock outstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2008. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/11. During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%.InstructionsCompute the proper earnings per share for 2010.
Question:Earnings per share. Santana Corporation has 400,000 shares of common stockoutstanding throughout 2010. In addition, the corporation has 5,000, 20-year, 7% bondsissued at par in 2008....