Ramirez corporation has 400000 shares of common stock, Ask an Expert

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Ramirez Corporation has 400,000 shares of common stock outstanding throughout 2007. In addition, the corporation has 5,000, 20-year, 7% bonds issued at par in 2005. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/08. During the year 2007, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M957805

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