Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Delcor Company reported net income of $2.8 million for the year ended 30 June 2020 and had an average of 780,000 common shares outstanding. The
Delcor Company reported net income of $2.8 million for the year ended 30 June 2020 and had an average of 780,000 common shares outstanding. The company has outstanding 40,000 options with an exercise price of $40 and no other potentially dilutive securities. Over the year, the companys market price has averaged $48 per share.
Calculate the companys basic and diluted EPS.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started