At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Net income for...

   

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At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Net income for 2024 Bonds payable, 8%, convertible into 43 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%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. $ 550 million $ 400 million 550 million 39 million Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. Numerator Denominator = Earnings per share Basic Diluted ÷ + = At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Net income for 2024 Bonds payable, 8%, convertible into 43 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%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. $ 550 million $ 400 million 550 million 39 million Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. Numerator Denominator = Earnings per share Basic Diluted ÷ + =

Answer rating: 100% (QA)

1 Calculate Weighted Average Number of Shares Outstanding Shares outstanding on January 1 1600 milli... View the full answer