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Compute basic and diluted earnings per share

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Question - Assume ABC issued 10-year, EUR 3.000.000, - face value, 4% bonds on 1 July 2015 at par, with interest payable annually. Each EUR 1.000,- bond is convertible into 16 ordinary shares of ABC. ABC's operating income for the reporting period was EUR 3.100.000,-. The company's average tax rate was 30%, and its marginal tax rate was 35%. Total Interest expense on all liabilities was EUR 300.000,-. None of the bonds were converted during the reporting period. The company determines its profit attributable to preferred shareholders for the reporting period as EUR 200.000.

Compute basic and diluted earnings per share for the reporting period ended 30 June 2016!

Reference no: EM132550737

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