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During the current year, East Corporation had 7 million shares of common stock outstanding. 3,800, 8% convertible bonds, each with $1,000 face value, were issued
During the current year, East Corporation had 7 million shares of common stock outstanding. 3,800, 8% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning of the year. East reported income before tax of $8 million and net income of $4.8 million for the year. Each bond is convertible into 10 shares of common stock. What is diluted EPS?
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