Question

Given the following data, compute diluted earnings per share:
Common stock (500,000 shares at $4.00 par value) 
$2,000,000 
Convertible debentures at 7 percent (6,000 bonds at $1,000 each; convertible into 20 shares per bond) 
6,000,000 
Retained earnings 
8,000,000 
Earnings before interest and taxes 
3,420,000 
Interest 
420,000 
Earnings before taxes 
3,000,000 
Earnings after taxes (50%) 
$1,500,000 


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  • CreatedSeptember 21, 2015
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