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Ozarka Products reported $9,500,000 in net income for the current year. The company had $5,000,000 ...

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Ozarka Products reported $9,500,000 in net income for the current year. The company had $5,000,000 ...

Ozarka Products reported $9,500,000 in net income for the current year. The company had $5,000,000 of 7% cumulative, preferred stock outstanding all year, along with, $10,000,000 of 6% bonds. Each bond had 4 detachable stock warrants and each warrant allowed the warrant holders to buy a share of stock for $60. The average share price for the year was $80. Common shares outstanding at the beginning of the year was 4,000,000, but on June 15, the company declared a a 10% stock dividend. Compute both basic and diluted EPS when the tax rate is 40%.

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

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gmiannotti

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More solutions for this book are available here

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billyd1996 Author

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Genius!!!!!!

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