is convertible into 40,000 shares of common stock. During 2015, Hanson paid dividends of $. 60 per share on the common stock and $ 2 per share on the preferred stock. Each $ 1,000 bond is convertible into 45 shares of common stock. The net income for 2015 was $ 400,000 and the income tax rate was 30 %.
Basic earnings per share for 2015 is( rounded to the nearest penny)
21) Sealy Corporation had the following information in its financial statements for the years ended 2014 and 2015:
Cash dividends for the year 2015 $ 5,000
Net income for the year ended 2015 87,000
Market price of stock, 12 / 31 / 14 10