W4 meyer corporation reported net income for 2015 of 278, Ask an Expert

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W4. Meyer Corporation reported net income for 2015 of $278, 900. Meyer began the year with 100,000 shares of $1 par value common shares outstanding.

In addition, the company has only potentially dilutive security; $100,000 of 6% convertible bonds, convertible into total of 4,000 common shares.

On October 1, Meyer sold 10,000 shares of common stock for $60 per share. Meyer paid dividends of $2.00 per share to the common shareholders in December. Assuming the tax rate of 30%, calculate Meyer's basic and diluted EPs to cents.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93037503

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