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At December 31, 2021, the financial statements of Hollingsworth Industries included the following: Net income for 2021 Bonds payable, 8%, convertible into 45 million shares
At December 31, 2021, the financial statements of Hollingsworth Industries included the following: Net income for 2021 Bonds payable, 8%, convertible into 45 million shares of common stock Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 11 $570 million $ 200 million 350 million 42 million Additional data: The bonds payable were issued at par in 2019. The tax rate for 2021 was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2021. (Do not round intermediate calculations. Round "Earnings per share" answers to 2 decimal places. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Answer is not complete. Numerator Denominator Basic Diluted S 570 T 336 $ = Earnings per share 1.70
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