Answered

Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

At December 31, 2017, Kefir Company had 800,000 shares of common stock outstanding. On October 1, 2018, an additional 160,000 shares of common stock were issued. In addition, Kifer had $10,000,000 of 5% convertible bonds outstanding at December 31, 2017, which are convertible into 360,000 shares of common stock. No bonds were converted into common stock in 2018. The net income for the year ended December 31, 2018, was $2,500,000. Assuming the income tax rate was 30%, the diluted earnings per share for the year ended December 31, 2018, should be:________ (rounded to the nearest penny) A) $3.39. B) $2.50. C) $2.38. D) $2.08.

Sagot :

Zviko

Answer:

A) $3.39

Explanation:

The diluted earnings per share for the year ended December 31, 2018, should be A) $3.39

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.