(Solved by Humans)-Amy Dyken, controller at Fitzgerald Pharmaceutical Industries, a

FITZGERALD PHARMACEUTICAL INDUSTRIES
SELECTED BALANCE SHEET
INFORMATION
JUNE 30, 2014

Long-term debt

Notes payable, 10%

$1,037,000

7% convertible bonds payable

5,090,000

10% bonds payable

6,054,000

Total long-term debt

$12,181,000

Shareholders? equity

Preferred stock, 6% cumulative, $50 par value, 104,800 shares authorized, 26,200 shares issued and outstanding

$1,310,000

Common stock, $1 par, 10,115,000 shares authorized, 1,011,500 shares issued and outstanding

1,011,500

Additional paid-in capital

4,003,200

Retained earnings

6,013,600

Total shareholders? equity

$12,338,300

1.

Options were granted on July 1, 2013, to purchase 208,300 shares at $17 per share. Although no options were exercised during fiscal year 2014, the average price per common share during fiscal year 2014 was $30 per share.

2.

Each bond was issued at face value. The 7% convertible bonds will convert into common stock at 50 shares per $1,000 bond. The bonds are exercisable after 5 years and were issued in fiscal year 2013.

3.

The preferred stock was issued in 2013.

4.

There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year 2014.

5.

The 1,011,500 shares of common stock were outstanding for the entire 2014 fiscal year.

6.

Net income for fiscal year 2014 was $1,565,000, and the average income tax rate is 45%.

Basic earnings per share

Diluted earnings per share

$