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Oriole Corporation earned net income of $268.400 in 2020 and had 110.000 common shares outstanding throughout the year. Also outstanding all year was $850,000 of
Oriole Corporation earned net income of $268.400 in 2020 and had 110.000 common shares outstanding throughout the year. Also outstanding all year was $850,000 of 10% bonds that are convertible into 11,000 common shares. Oriole's tax rate is 40% Calculate Oriole's 2020 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately. (Round answer to 2 decimal places, eg, 15.25.) Earnings per share
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0697789938
