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Compare pearl to drug companies that issue debt

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Reference no: EM133170910

Question - Pearl, Inc., a drug company, reported the following information. The company prepares its financial statements in accordance with GAAP.

2020 (000)

Current liabilities $551,514

Convertible subordinated debt 646,772

Total liabilities 1,228,946

Stockholders' equity 176,587

Net income 58,037

Analysts attempting to compare Pearl to drug companies that issue debt with detachable warrants may face a challenge due to differences in accounting for convertible debt.

Reference no: EM133170910

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