Question
On January 1, 2020, Stellar Company issued 10-year, $1,840,000face value,6% bonds, at par. Each $1,000 bond is convertible into16shares of Stellar common stock. Stellar's net
On January 1, 2020, Stellar Company issued 10-year, $1,840,000face value,6% bonds, at par. Each $1,000 bond is convertible into16shares of Stellar common stock. Stellar's net income in 2020 was $473,800, and its tax rate was20%. The company had103,000shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020.
Compute diluted earnings per share for 2020
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
5th Canadian Edition
1119403995, 9781119403999
