At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Required: Compute basic and
Question:
At December 31, 2024, the financial statements of Hollingsworth Industries included the following:
Required:
Compute basic and diluted EPS for the year ended December 31, 2024.
Transcribed Image Text:
Net income for 2024 Bonds payable, 8%, convertible into 36 million shares of common stock Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 1 Additional data: The bonds payable were issued at par in 2022. The tax rate for 2024 was 25%. $560 million $300 million 400 million 30 million
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Interest on the bonds 300 million x 8 24 million If the bonds were not outstanding interest expense ...View the full answer
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