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Flint Corporation had net income for the current fiscal year of $552,000, and common shares outstanding of 92,000. There were no changes to Flints common

Flint Corporation had net income for the current fiscal year of $552,000, and common shares outstanding of 92,000. There were no changes to Flints common shares during the year. Flint also had outstanding a $1,000,000, 9% bond sold in a previous year that was convertible to 80,000 common shares. In addition, Flint sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 11% bond, convertible to 74,200 shares. Flint was subject to a tax rate of 27%. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). Calculate Flints basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $Enter your answer in accordance to the question statement Calculate the after-tax interest paid on the 9% bonds. After-tax interest on 9% bonds $Enter your answer in accordance to the question statement Determine an incremental per share effect for 9% bonds. (Round earnings per share to 3 decimal places, e.g. 15.257.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 9% Bonds $ $ Calculate the after-tax interest paid on the 11% bonds. After-tax interest on 11% bonds $Enter your answer in accordance to the question statement Determine an incremental per share effect for 11% bonds. (Round earnings per share to 3 decimal places, e.g. 15.257.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 11% Bonds $ $ Rank the potentially dilutive securities from most dilutive to least dilutive. 9% bonds 11% bonds Calculate Flints diluted earnings per share. (Round calculations of EPS to 3 decimal places, e.g. $3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Numerator Denominator EPS Basic EPS $ $ Sub Total $ $ $ Diluted EPS

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