Hihotech Company reported net income of $2.3 million for the year ended 30 June 2009 and had
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Hihotech Company reported net income of $2.3 million for the year ended 30 June 2009 and had a weighted average of 800,000 common shares outstanding. At the beginning of the fiscal year, the company has outstanding 30,000 options with an exercise price of $35. No other potentially dilutive financial instruments are outstanding. Over the fiscal year, the company’s market price has averaged $55 per share. Calculate the company’s basic and diluted EPS.
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Using the treasury stock method we first calculate that the company would have received 1050000 35 f...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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