Homework Answers
a.
Basic earning per share = Net income / Number of common stock outstanding
Basic earning per share = $3,650,000 / 950,000 = $3.84
b.
Diluted earning per share = Net income + After tax interest / Common stock outstanding+convertible bonds+stock warrants
Diluted earning per share = $3,650,000 + 700,000*60% / 950,000+200,000+60,000
Diluted earning per share = $3,650,000 + 420,000 / 1,210,000 = $3.36
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