Question
Manchester Corporation had 100,000 shares of common stock outstanding and 5% bonds with a face value of $1,000,000 outstanding throughout the current year. The bonds
Manchester Corporation had 100,000 shares of common stock outstanding and 5% bonds with a face value of $1,000,000 outstanding throughout the current year. The bonds are convertible into 150,000 common shares. Net income for the current year was $212,500 with a 25% tax rate. What is the amount of the diluted EPS for the current year? (Round your answer to 2 decimal places.)
Diluted EPS:
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A Guide To Effective Internal Management System Audits Implementing Internal Audits As A Risk Management Tool
Authors: IT Governance Publishing
1st Edition
1849285594, 978-1849285599
