Answered step by step
Verified Expert Solution
Link Copied!

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)

a $7.20

b 7.27

c 6.05

d 7.58

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Art Of Auditing Uncovering Core Principles Of Audit Profession

Authors: Ignatius Ravi

1st Edition

B0CC7FFYP6, 979-8852090959

More Books

Students also viewed these Accounting questions

Question

Write short notes on Interviews.

Answered: 1 week ago

Question

In what context did the study and teaching of communication begin?

Answered: 1 week ago