Hominem Inc. has 100,000 common shares outstanding. Earnings from continuing operations amounted to $1,500,000 (after tax) for
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• 4% debentures amounting to $500,000 were issued on 1 January 20X4. On this issue date, the bonds were recorded at $425,000. The debentures are convertible into 12 shares per $1,000. On 1 January 20X4, similar bonds with no conversion options had a market yield of 6%. Interest is payable annually.
• Outstanding options permitting the holder to buy 5,000 common shares in 20x6 or later for $35 per share.Compute diluted EPS on continuing operations. (Do not round intermediate calculations and round your answer to 2 decimal places.)
Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
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