# Question I have two problems out of my first week that I just cannot get right I have to find the earnings per Sharon on exercise 16 18

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Question I have two problems out of my first week that I just cannot

get right  I have to find the earnings per Sharon on exercise 16 18.  Net income I understand, but the weighted-average number per outstanding shares I cannot understand.

Exercise 16-18
Pina Inc. presented the following data.

Net income \$2,740,000
Preferred stock: 45,000 shares outstanding, \$100 par, 8%
cumulative, not convertible 4,500,000
Common stock: Shares outstanding 1/1 714,000
Issued for cash, 5/1 291,600
Acquired treasury stock for cash, 8/1 135,600
2-for-1 stock split, 10/1
Compute earnings per share. (Round answer to 2 decimal places, e.g. \$2.55.)

Earnings per share\$

Can someone help me with the formulas?

Exercise 16-24
The Sweet Corporation issued 10-year, \$4,790,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of \$1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 20:1. At the date of issue, the bonds were sold at 97. Bond discount is amortized on a straight-line basis. Sweet's effective tax was 40%. Net income in 2017 was \$8,000,000, and the company had 2,015,000 shares outstanding during the entire year.

(a) Compute both basic and diluted earnings per share. (Round answers to 2 decimal places, e.g. \$2.55.)

Basic earnings per share\$
Diluted earnings per share\$

Thank you so much, I really need the help in figuring this out. I am confused by "Issued for cash 5/1" treasury