Answered step by step
Verified Expert Solution
Question
1 Approved Answer
XYZ Inc reported net income of $362,980 for the year and had 215,930 common shares outstanding throughout the year. Also outstanding all year were 54,340
XYZ Inc reported net income of $362,980 for the year and had 215,930 common shares outstanding throughout the year. Also outstanding all year were 54,340 employee stock options with each option giving the holder the right to purchase one common share at $11.85 per share. The average market price for the common shares during the year was $15.93 per share. Calculate the company's fully diluted earnings per share
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started