Rockland Corporation earned net income of $300,000 in 2025 and had 100,000 shares of common stock outstanding

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Rockland Corporation earned net income of $300,000 in 2025 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $800,000 of 5% bonds, which are convertible into 16,000 shares of common. Rockland’s tax rate is 20%. Compute Rockland’s 2025 diluted earnings per share.

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Intermediate Accounting

ISBN: 9781119790976

18th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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