Answer- Diluted earnings per share = $3.46 per share.
Explanation- Diluted earnings per share =(Profit attributable to common stockholders+ After tax interest on convertible bonds)/( Weighted average number of common shares outstanding during the period+ All dilutive potential common stock)
= $370000+{($890000*9%)*(1-.30)/(104000 shares+ 19000 shares)
= ($370000+$56070)/123000 shares
= $426070/123000 shares
= $3.46 per share
Brief Exercise 16-13 Waterway Corporation camed net income of $370,000 in 2017 and had 104,000 shares of common sto...
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