work

Question $4,$ E$20-7($similar to$)$

HW Score: $0\%,0$ of $5$ points

Part $1$ of $4$

Points: $0$ of $1$

'adlin Company began the current year with $1,660,000$ common shares outstanding. It also reported $$880,000$ par value, $4\%$ convertible bonds outstanding all year. The bonds were issued at par and can be onverted to $880,000$ shares of common stock. Wadlin made interest payments at the end of each quarter. The company is subject to a $40\%$ tax rate and reported net income of $$957,000$ for the current year. ead the requirements.

equirement a$.$ What are basic and diluted EPS $($earnings per share$)$ for Wadlin Company?

egin with the basic earnings per share. $($Round the EPS to the nearest cent, $$x.xx.)$

asic EPS for the current year $=$

Requirements

a$.$ What are basic and diluted EPS for Wadlin Company?

b$.$ Assume that the bonds were converted on October $1.$ What are basic and diluted EPS for Wadlin Company?