Homework Answers
basic EPS = net income/number of common shares outstanding
= $300000/500000
= $0.60 per share
&
diluted EPS = Net income/number of common shares outstanding
= $300000/554000
= $0.54 per share
where,
81000 - {(81000 x $9) x (2/3)}/9
= 81000 - 54000
= 27000
and therefore,
number of common shares outstanding = 500000 + 81000 - 27000 = 554000
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