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Calculate blossom diluted earnings per share

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Reference no: EM132544417

Blossom Corporation earned net income of $300,000 in 2020 and had 82,000 common shares outstanding throughout the year. Also outstanding all year was $920,000 of 10% bonds that are convertible into 26,000 common shares. Blossom's tax rate is 30%.

Question 1: Calculate Blossom's 2020 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately.

Reference no: EM132544417

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