Question: At December 3 1 , 2 0 2 2 , Pronghorn Ltd . had 5 0 5 0 0 0 common shares outstanding ( no

At December 31,2022, Pronghorn Ltd. had 505000 common shares outstanding (no preferred shares issued). On October 1,2023, an additional 101000 common shares were issued. In addition, Pronghorn had $5012000,6% convertible bonds outstanding at December 31,2022, which are convertible into 224000 common shares; however, no bonds were converted during Net income for calendar 2023 was $1501644. Assuming the income tax rate was 30%, the diluted earnings per share for 2023 would be
1. $2.39.
2. $2.27.
3. $2.03.
4. $3.25.
At December 3 1 , 2 0 2 2 , Pronghorn Ltd . had 5

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