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Compute basic eps and compute diluted eps

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Reference no: EM132508934

In 2016, Chirac Enterprises issued, at par, 60, $1,000, 8% bonds, each convertible into 100 shares of common stock.

Throughout 2017, 2,000 shares of common stock were outstanding, and 50 shares of preferred stock (cumulative, 4% rate, $100 par) were outstanding. None of the bonds was converted in 2017.

Chirac had revenues of $17,500 and expenses other than interest and taxes of $8,400 for 2017 (tax rate is 40%.)

Required:

Question (a) Compute basic EPS. Compute diluted EPS.

Question (b) Assume same facts as those for Part (a), except the 60 bonds were issued on September 1, 2017 (rather than in 2016), and none have been converted or redeemed. Recompute BEPS and DEPS.

Attachment:- EPS.zip

Reference no: EM132508934

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