Ignatius Corporation Had 7 Million Shares of Common Stock Outstanding

question 100

Multiple Choice

Ignatius Corporation had 7 million shares of common stock outstanding during the current calendar year. It issued ten thousand $1,000, convertible bonds on January 1. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually at an annual rate of 10%. On June 30, Ignatius issued 100,000 shares of $100 par 6% cumulative preferred stock. Dividends are declared and paid quarterly. Ignatius has an effective tax rate of 40%. Ignatius would report the following EPS data (rounded) on its net income of $20 million:

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Family Therapy

A form of psychotherapy that aims to resolve issues and improve communication within the family unit, treating the family as a whole.

Individual Therapies

A form of therapy focusing on treating the patient as an individual, often involving one-on-one sessions between the therapist and the patient.

Family Relationships

The interconnected roles, bonds, and dynamics among family members, influencing their emotional and psychological well-being.

Mindfulness-based Stress Reduction

A therapeutic program that combines mindfulness meditation and yoga to reduce stress and improve psychological wellbeing.