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Calculate carla vista diluted earnings per share

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Reference no: EM133089196

Question - Carla Vista Corporation earned net income of $220,000 in 2020 and had 120.000 common shares outstanding throughout the year. Also outstanding all year was $890,000 of 10% bonds that are convertible into 35,000 common shares. Carla Vista's tax rate is 40%. Calculate Carla Vista'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: EM133089196

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