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Calculate abc basic and diluted eps

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Question - ABC Company reported net income of 1,025,000 for the year ended 30th June 2021. The company had a weighted average of 750,000 shares of common stock outstanding. In addition, the company has only one potentially dilutive security: a total number of 1,200 convertible bonds having face value of $100 each and coupon rate of 3.5%. Each convertible bond can be converted into 10 common shares. Assume a tax rate of 30%, calculate ABC's basic and diluted EPS?

Reference no: EM133136952

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