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At December 31, 2020 and 2019, ABC had 18887 shares of common stock and $12000 of 6% convertible bonds issued at par. Each 1000 bond
At December 31, 2020 and 2019, ABC had 18887 shares of common stock and $12000 of 6% convertible bonds issued at par. Each 1000 bond is convertible to 140 to shares of common stock. No potential common shares other than the convertible bonds were outstanding during 2020. Net income for 2020 was $104180. The income tax rate was 35%. For 2020, diluted EPS was: Answer: 5.50 x
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