Earnings Per Share ComputationsJones, Inc

question 47

Essay

Earnings Per Share ComputationsJones, Inc. has net income (30% tax rate) of $1,400,000 for 2015, and an average number of shares outstanding during the year of 500,000 shares. The corporation issued $2,000,000 par value of 10-year, 9% convertible bonds on January 1, 2013 at a $180,000 discount. The convertible bonds are convertible into 70,000 shares of common stock. Assume the company uses the straight-line method for amortizing bond discount.
InstructionsCompute the earnings per share data, excluding any notes if required.

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Definitions:

Intermediate-skill Players

Individuals who have progressed beyond beginner level in a skill or sport but are not yet at an expert level.

Unit Volume

The quantity of products or goods measured in units, often used to track sales or production levels.

Unit Volume

A measure of quantity that indicates the total number of individual units sold or produced, often used to assess sales performance or operational output.

Pricing Objective

The goals a company wants to achieve through its pricing strategy, such as maximizing profit, increasing market share, or driving competition.