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zhouanne · 2022年10月14日

关于分子

  1. CFA I
  2. FRA

NO.PZ2019120301000040

问题如下：

Question

The following financial information is available at the end of the year.


The diluted EPS (earnings per share) is closest to:

选项：

A.$3.08.

B.$2.93.

C.$2.91.

解释：

Solution

C is correct. The convertible preferred shares are anti-dilutive, as shown in the following table. Therefore, the diluted EPS is the same as the basic EPS, $2.91.


* Exceeds Basic EPS; Series B is anti-dilutive and is thus not included.

A is incorrect. It ignores the Series A dividends and incorrectly includes the anti-dilutive effect of converting the Series B shares.

From the table:

Earnings to Common = 1,000,000 (ignores Series A, converts)

Common shares outstanding = 325,000, as per table with conversion of convertible

EPS = $1,000,000/325,000 shares = $3.08/share

B is incorrect. It includes the conversion of the convertible securities, which are anti-dilutive.

分析不是ni➖div优先股a➕div优先股b吗。为什么不加回div优先股b？

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1 个答案

Kiko_品职助教 · 2022年10月14日

嗨，努力学习的PZer你好：


如果b不转换成优先股：

分子 = 1000000 - 12000*4 - 30000*7.5

优先股b转换成普通股了：

分子 = 1000000 - 12000*4 - 30000*7.5 +  30000*7.5。一加一减抵消掉了。

----------------------------------------------
努力的时光都是限量版，加油！

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