Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Foxhound Corp reported net income of $720,000 for the year ended December 31, 2019. Foxhound had 100,000 common shares outstanding as of January 1st, 2019;
Foxhound Corp reported net income of $720,000 for the year ended December 31, 2019. Foxhound had 100,000 common shares outstanding as of January 1st, 2019; 24,000 fully vested (as of 2013) stock options (each option allows for one common share at a $50 exercise price); Foxhound bought back 20,000 common shares on October 1st, 2019. The average market price of the shares throughout the year was $60 per share. Which of the following is the Diluted EPS for Foxhound at the end of 2019? (Round to the nearest penny)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started