Windsor Corporation had net income for the current fiscal year of $700,000, and common shares outstanding...

 

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Windsor Corporation had net income for the current fiscal year of $700,000, and common shares outstanding of 80,000. There were no changes to Windsor's common shares during the year. Windsor also had outstanding a $1,000,000, 12% bond sold in a previous year that was convertible to 60,000 common shares. In addition, Windsor sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 16% bond, convertible to 54,200 shares. Windsor was subject to a tax rate of 23%. (a) Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 3 decimal places, e.g. 15.253.) Basic earnings per share $ Windsor Corporation had net income for the current fiscal year of $700,000, and common shares outstanding of 80,000. There were no changes to Windsor's common shares during the year. Windsor also had outstanding a $1,000,000, 12% bond sold in a previous year that was convertible to 60,000 common shares. In addition, Windsor sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 16% bond, convertible to 54,200 shares. Windsor was subject to a tax rate of 23%. (a) Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 3 decimal places, e.g. 15.253.) Basic earnings per share $