Question
Smithing Inc. has the following information available at 12/31/19: 12/31/2019 Common Stock 175,000 shares 6% convertible bonds (issued at par) $1,000,000 Net Income $2,920,000 Additional
Smithing Inc. has the following information available at 12/31/19: 12/31/2019 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 Smithing's diluted EPS for 2019?
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Frank Woods Business Accounting Volume 2
Authors: Frank Wood, Alan Sangster
13th Edition
1292085053, 9781292085050
