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Terrell Foods reported $890,000 in net income and its weighted average shares outstanding for the year is 100,000 shares. In prior years it sold $1,500,000
Terrell Foods reported $890,000 in net income and its weighted average shares outstanding for the year is 100,000 shares. In prior years it sold $1,500,000 of8% long term bonds at par which are still outstanding. The bonds are convertible into 50,000 shares of common stock. The tax rate for all years is40%. If Terrell has no other potentially dilutive securities and no preferredstock, what are basic and dilutedEPS?
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