Sarasota Corporation earned net income of $388,800 in 2020 and had 108,000 shares of common stock outstanding throughout the year. Also outstanding all year was $750,000 of 5% bonds, which are convertible into 15,000 shares of common. Sarasota’s tax rate is 20 percent. Compute Sarasota’s 2020 diluted earnings per share.

Answer rating: 100% (QA)

adjusted net income 388800750000x5... View the full answer