You Are Given the Following Information About JG Ltd

question 95

Essay

You are given the following information about JG Ltd.
Class A preferred shares, 1,000 shares issued and outstanding; annual dividend rate of $500 per shar cumulative, paid at the end of each quarter; each share is convertible into 40 shares of Class B common
Class B common shares, 80,000 shares issued and outstanding
There are no other senior securities
Net Income for 2012, the year of the conversion, is $1,650,000; there are no discontinued operations.All 1,000 shares of Class A are converted into 40,000 Class B shares on October 1 2012; dividends for the first three quarters of the year were fully paid.Calculate the basic EPS.

---

Definitions:

Hormone Injections

The medical procedure of administering hormones into the body through injections for therapeutic purposes, such as hormone replacement therapy.

Breast Buds

The initial phase of puberty in females, characterized by small mounds forming under the nipples as the breasts start to develop.

Extraordinary Efforts

Exceptional measures or attempts that go beyond the normal scope of actions to achieve a particular goal or overcome a challenge.

Resuscitate

To revive someone from unconsciousness or apparent death, especially through medical procedures such as CPR (cardiopulmonary resuscitation).