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PLEASE SHOW ALL WORK AND EXPLAIN Stevens Corporation had 46,035 shares of common stock outstanding during the current calendar year. On July 1, Stevens issued
PLEASE SHOW ALL WORK AND EXPLAIN
Stevens Corporation had 46,035 shares of common stock outstanding during the current calendar year. On July 1, Stevens issued 3,053 convertible bonds . Each bond had a $1,000 face value. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay stated rate of 8% interest annually for 10 years. Stevens had a net income of $328,827. Stevens tax rate was 30%. Stevens Diluted EPS is ______________ (Round your answer to 2 decimal places)
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