Question
Question Content Area Daniel Company had 24,000 shares of common stock outstanding on January 1 and issued an additional 9,000 on August 1 of 2020.
Question Content Area Daniel Company had 24,000 shares of common stock outstanding on January 1 and issued an additional 9,000 on August 1 of 2020. The company also has $90,000 of 8% convertible bonds outstanding during the year. Each $1,000 bond is convertible into 5 shares of common stock. Daniel had after-tax net income for the year of $150,000, and the tax rate was 30%. Required: Compute the appropriate earnings per share amount(s) to be reported on Daniel Company's 2020 income statement. If required, round your answers to two decimal places.
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