Flounder Corporation earned net income of $277,550 in
2020 and had 97,000 shares of common stock outstanding
throughout the year. Also outstanding all year was $750,000 of
5% bonds, which are convertible into 19,000 shares of
common. Flounder’s tax rate is 30 percent.
Compute Flounder’s 2020 diluted earnings per
share. (Round answer to 2 decimal places, e.g.
3.55.)
Flounder Corporation earned net income of $277,550 in 2020 and had 97,000 shares of common stock outstanding throughout
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Flounder Corporation earned net income of $277,550 in 2020 and had 97,000 shares of common stock outstanding throughout
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