Question

Rockland Corporation earned net income of R300,000 in 2010 and had 100,000 ordinary shares outstanding throughout the year. Also outstanding all year was R800,000 of 10% bonds, which are convertible into 16,000 ordinary shares. The interest expense on the liability component of the convertible bonds was R64,000. Rockland’s tax rate is 40 percent. Compute Rockland’s 2010 diluted earnings per share.



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  • CreatedJune 17, 2013
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