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Calculate basic earnings per share

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Problem - On December 31, 2021 Sunland Co. had 218,500 common shares outstanding. The company also had outstanding a convertible bond with a face value of $98,500 that had been issued in 2015'The bond paid 6% interest per year and was convertible to 1,970 common shares- Sunland Co. had net income for 2021 of $1,092,500 and was subject to a 30% income tax rate. Calculate basic earnings per share.

Reference no: EM132913350

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