gracesun

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connie198226

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Laura17

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mayanfang1

答案和详解如下：

Q60. What was the after-tax interest charge?

A)   $6,215.

B)   $2,450.

C)   $3,675.

Correct answer is C)

(0.06125)(1,000)(100)

(6,125)(1 − 0.4) = 3,675

Q61. How many new shares had to be issued to facilitate warrant conversion?

A)   2,689.

B)   13,665.

C)   9,986.

Correct answer is A)

9,986 × $38 = $379,468

$379,468 / $52 = 7,297 common shares

9,986 − 7,297 = 2,689 new common shares

Q62. What were the basic and diluted EPS for the year?

          Basic EPS                                      Diluted EPS

 

A) $3.97                                          $3.06

B) $4.12                                          $3.06

C) $4.12                                          $2.95

Correct answer is B)

Basic EPS = Net income − preferred dividends / Wt Average shares of common = ($200,000 − $35,045) / 40,045 = 164,955/40,405 = $4.12

Diluted EPS:

(100 bonds)(33 common shares/bond) = 3,300 common shares

(2,315 preferred shares)(3.3) = 7,640

(2,572 preferred shares)(5) = 12,860

7,640 + 12,860 = 20,500 common shares from preferred

[($200,000 − $35,045) + $35,045 + $3,675] / (40,045 + 3,300 + 20,500 + 2,689)

= $203,675 / 66,534 shares = $3.06

Q63. Common size income statements express all income statement items as a percentage of:

A)   net income.

B)   sales.

C)   assets.

Correct answer is B)

Common size income statements express all income statement items as a percentage of sales. Note that common size balance sheets express all balance sheet accounts as a percentage of total assets.