Question
Schilling Inc. has the following information available at 12/31/19: 12/31/19 Common Stock 175,000 shares 6% convertible bonds (issued at par) $1,000,000 Net Income $2,920,000 Additional
Schilling Inc. has the following information available at 12/31/19:
12/31/19
Common Stock 175,000 shares
6% convertible bonds (issued at par) $1,000,000
Net Income $2,920,000
Additional information: The bonds were originally issued in a prior year The bonds are convertible into 18,000 shares of common stock No additional common shares were issued during 2019 The tax rate is 32%.
What is Schilling's diluted EPS for 2019?
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Financial Accounting Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
1111464936, 978-1111464936
