On January 1, 20X1, Deseret Company had 190,000 shares of common stock outstanding. On October 1, 20X1, an additional 70,000 shares of common stock were issued for cash. Deseret also had 2,000,000 of 8% convertible bonds outstanding throughout 20X1. These bonds are convertible into 55,000 shares of common stock. It has been determined that these convertible bonds were DILUTIVE in 20X1. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 20X1?

Answer rating: 100% (QA)

Answer To compute diluted earnings per share EPS for the year ended December 31 20X1 we need to cons... View the full answer