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Basic and Diluted EPS. At December 31, 2009, the financial statements of Hollingsworth Industries included the following: Net Income for 2009=$560 million Bonds Payable, 10%
Basic and Diluted EPS. At December 31, 2009, the financial statements of Hollingsworth Industries included the following: Net Income for 2009=$560 million Bonds Payable, 10% convertible into 36million shares of common stock=$300 million Common Stock: Shares outstandingon January 1 = $400million Treasury Shares purchased for cash on September 1 = $30 million Additional Data:The bonds payable were issued at par in 2007. The tax rate for 2009 was 40%. Compute the basic and diluted EPS for the year ended December 31, 2009
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