EPS Question

Turner Corp had 700,000 Net Income 2017. The tax rate is (40%). 330,000 shares of common stock were outstanding were outstanding throughout the year.

Turner Co. Had to following potentially Dialutive securites

-40,000 options to buy common stock at $50 a share outstanding, The market price of the common stock avg $60 during the year.

-During the year, there were 20,000 share of cumultive convertible preferred stock outstanding, The preferred stock is $200 par and each share is convertible into 3 shares of common stock

-Turner issued $3,000,000 of 8% convertible bonds at face value during the year. Each $1,000 bond is convertible into 20 share of Common stock

Using the information, compute the EPS for 2017 that will be provided on the financial statment. Show all calculations & work