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Waterway Corporation earned net income of $390,620 in 2025 and had 111,000 shares of common stock outstanding throughout the year. Also outstanding all year
Waterway Corporation earned net income of $390,620 in 2025 and had 111,000 shares of common stock outstanding throughout the year. Also outstanding all year was $850,000 of 5% bonds, which are convertible into 16,000 shares of common. Waterway's tax rate is 30 percent. Compute Waterway's 2025 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
IFRS edition volume 2
978-0470613474, 470613475, 978-0470616314
