申論題

三、Kobe Co. had 200,000 shares of ordinary shares, 30,000 shares of convertible preference shares, and $1,500,000 of 10% convertible bonds outstanding during 2019. The preference shares are convertible into 40,000 shares of ordinary shares； each $1,000 bond is convertible into 45 shares of ordinary shares. During 2019, Kobe paid dividends of $1.20 per share on the ordinary shares and $3.00 per share on the preference shares. The net income for 2019 was $900,000 and the income tax rate was 30%.