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During 2 0 1 0 , Sanchez, Inc. had the following convertible securities outstanding: A . $ 2 2 0 , 0 0 0 of
During Sanchez, Inc. had the following convertible securities outstanding:
A $ of $ par, cumulative preferred stock. Each share is convertible into shares of common stock.
B $ of convertible bonds. Each $ bond is convertible into shares of common stock.
C $ of convertible bonds. Each $ bond is convertible into shares of common stock.
D $ of $ par, cumulative preferred stock. Each share is convertible into shares of common stock.
Sanchez, Inc. has an income tax rate of Its reported net income for was $ and it had shares of common stock outstanding all year.
Required:
Calculate basic and diluted earnings per share for Sanchez.
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