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Oakridge Corporation has provided the information that follows related to its calculation of earnings per share for 2023. Its common shares and bonds were outstanding
Oakridge Corporation has provided the information that follows related to its calculation of earnings per share for 2023. Its common shares and bonds were outstanding during the entire year.
- Net income $400,000
- Common shares outstanding 100,000
- Face value of convertible bonds 900,000
- Shares into which bonds can be converted 15,000
- Face rate of the bonds 10%
- Tax rate 25%
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