Compute basic and diluted eps for the year ended

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Reference no: EM132024880

At December 31, 2016, the financial statements of Hollingsworth Industries included the following:

Net income for 2016

$560 million

Bonds payable, 10%, convertible into 36 million shares of common stock

$300 million

Common stock:

Shares outstanding on January 1

400 million

Treasury shares purchased for cash on September 1

30 million

Required:

Compute basic and diluted EPS for the year ended December 31, 2016

Reference no: EM132024880

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