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Calculate indigo basic earnings per share

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Problem 1: Indigo Corporation had net income of $110,000 for the fiscal year ending December 31, 2021. The company pays 15% income tax. For fiscal 2021, the weighted average number of common shares was 22,000. Throughout fiscal 2021 Indigo had a $490,000, 5% bond that was convertible to 11,000 common shares. On September 1, 2021, the company sold another new $1,035,000, 8% bond that was convertible to 21,000 common shares. Calculate Indigo's basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM132721859

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