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At December 31, 2022, Donald Martin Ltd. had 897000 common shares outstanding (no preferred shares issued). On September 1, 2023, an additional 294000 common shares
At December 31, 2022, Donald Martin Ltd. had 897000 common shares outstanding (no preferred shares issued). On September 1, 2023, an additional 294000 common shares were issued. In addition, Donald Martin had $10003000 (par value) 6% convertible bonds outstanding at December 31, 2022, which are convertible into 614000 common shares. No bonds were converted in 2023. Net income for calendar 2023 was $3747184. Assuming the income tax rate is 30%, what will be the diluted earnings per share for 2023 ?
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