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Calculate basic per share for collie corporation

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Throughout the calendar year 2019, Collie Corporation has 400,000 common shares outstanding (no preferred shares issued). In addition, Collie has 5,000, 20-year, 7% bonds outstanding, issued at par in 2015. Each $1,000 bond is convertible into 20 common shares after June 30, 2020.

Collie reported net income of $600,000 for calendar 2019. Their income tax rate is 30%.

Question 1: Calculate basic and diluted earnings per share for 2019

Reference no: EM132601649

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