Home » ACCOUNTING-The following information was taken from the books and records of Ludwick, Inc.:

ACCOUNTING-The following information was taken from the books and records of Ludwick, Inc.:

The following information was taken from the books and records of Ludwick, Inc.:1.Net Income$419,0002.Capital Structurea.Convertible 6% bonds. Each of the 250, $1,000 bonds is convertible into 50 shares of common stock at the present date and for the next 10 years.250,000b.$10 par common stock, 200,000 shares issued and outstanding during the entire year.2,000,000c.Stock warrants outstanding to buy 14,560 shares of common stock at $20 per share.3.Other Information:a.Bonds converted during the yearNoneb.Income tax rate30%c.Convertible debt was outstanding the entire yeard.Average market price per share of common stock during the year$32e.Warrants were outstanding the entire yearf.Warrants exercised during the yearNoneCompute basic earnings per share. (Round answer to 2 decimal places, e.g. 52.75.)Basic earnings per share$Link to TextCompute diluted earnings per share. (Round answers to 2 decimal places, e.g. 52.75.)SecurityEPSCommon Stock$Warrants$Conversion Bonds$

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