Question
Flounder Corporation earned net income of $277,550 in 2020 and had 97,000 shares of common stock outstanding throughout the year. Also outstanding all year was
Flounder Corporation earned net income of $277,550 in 2020 and had 97,000 shares of common stock outstanding throughout the year. Also outstanding all year was $750,000 of 5% bonds, which are convertible into 19,000 shares of common. Flounders tax rate is 30 percent. Compute Flounders 2020 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)
| Diluted earnings per share $$$$$ |
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Auditing ISO Management System
Authors: Dr. RAMESH R LAKHE, Dr. RAKESH L. SHRIVASTAVA, M M NAVEED, KRANTI P DHARKAR, Dr. C M SEDANI
1st Edition
1702203913, 978-1702203913
