ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 375

a.)Determine the weighted-average number of shares
outstanding as of December 31, 2015.
b.)Assume that Wilke Corp. earned net income of $3,315,000
during 2015. In addition, it had 117,000 shares of 9%, $102 par
nonconvertible, noncumulative preferred stock outstanding for
the entire year. Because of liquidity considerations, however,
the company did not declare and pay a preferred dividend in
2015. Compute earnings per share for 2015, using the weightedaverage number of shares determined in part (a

c.)Assume the same facts as in part (b), except that the preferred
stock was cumulative. Compute earnings per share for 2015.
(Round answer to 2 decimal places, e.g. $2.55.)

d.)Assume the same facts as in part (b), except that net income
included an extraordinary gain of $941,000 and a loss from
discontinued operations of $489,000. Both items are net of
applicable income taxes. Compute earnings per share for 2015.
(Round answer to 2 decimal places, e.g. $2.55.)

8)
Amy Dyken, controller at Fitzgerald Pharmaceutical
Industries, a public company, is currently preparing the
calculation for basic and diluted earnings per share and the
related disclosure for Fitzgerald’s financial statements. Below is
selected financial information for the fiscal year ended June 30,
2014.

9)

Under IFRS, how are convertible debt recorded?