Oppnox Company reported net income of $750,000 for the year ended 31 December 2009. The company had
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Oppnox Company reported net income of $750,000 for the year ended 31 December 2009. The company had a weighted average of 690,000 shares of common stock outstanding. In addition, the company has only one potentially dilutive security: $50,000 of 6 percent convertible bonds, convertible into a total of 10,000 shares.
Assuming a tax rate of 30 percent, calculate Oppnox’s basic and diluted EPS.
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If the debt securities had been converted the debt securities would no longer be outs...View the full answer
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Related Book For 
International Financial Statement Analysis CFA Institute Investment Series
ISBN: 9780470287668
1st Edition
Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie
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