P 19-15Information from the financial statements of Henderson-Niles Industries included the...

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P 19-15Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2011:Henderson-Niles' net income for the year ended December 31, 2011, is $520 million. The income tax rate is 35%. Henderson-Niles paid dividends of $1 per share on its preferred stock during 2011.Required:Compute basic and diluted earnings per share for the year ended December 31, 2011.

David · Accepted Answer

P 19-15
Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2011:
Common shares outstanding throughout the year...
80 million
convertible preferred shares 
(Convertible into 30 million shares of common)...
56 million
Convertible 10% bonds 
(Convertible into 12.00 million shares of common)...

P 19-15 Information from the financial statements of Henderson-Niles Industries included the following at December 31, 2011: Henderson-Niles' net income for the year ended December 31, 2011, is $520...

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