Question
TJX, Inc., an apparel retailer, reported net income (amounts in thousands) of $609,699 for year 4. The weighted average number of common shares outstanding during
TJX, Inc., an apparel retailer, reported net income (amounts in thousands) of $609,699 for year 4. The weighted average number of common shares outstanding during Year 4 was 488,809. TJX, Inc. subtracted interest expense net of tax saving on convertible debt of $4,482. If the convertible debt had been converted into common stock, it would have increased the weighted average common shares outstanding by 16,905 shares. TJX, Inc. has outstanding stock options that, if exercised, would increase the weighted average number of common shares outstanding by 6,935. Diluted earnings per share for TJX for Year 4 was: A. 1.25 B. 1.18 C. 1.19 D. 1.20
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