UGM June 2019 Q11
Study the data given below:
Net profit for the year ending
31-12-17 after preference → 1,00,000 dividend and tax
No. of equity shares as on 1-1-2017 → 50,000
No. of 12% convertible debentures of 100 each → 1,00,000
Each debenture is convertible into 10 equity
shares. The tax rate applicable to the company
is 30%.
