Question
Novak Corporation reported net income of $386,100 in 2020 and had 217,000 shares of common stock outstanding throughout the year. Also outstanding all year were
Novak Corporation reported net income of $386,100 in 2020 and had 217,000 shares of common stock outstanding throughout the year. Also outstanding all year were 51,000 options to purchase common stock at $10 per share. The average market price of the stock during the year was $15. Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)
| Diluted earnings per share | $ |
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th edition
470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144
