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Compute diluted earnings per share

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Problem - In 2012 Green Enterprises issued, at par, 40, $2,500, 12% bonds, each convertible into 100 shares of common stock. Green had revenues of $45,200 and expenses other than interest and taxes of $8,400 for 2013. (Assume that the tax rate is 30%.) Throughout 2013, 1,500 shares of common stock were outstanding; none of the bonds was converted or redeemed.

a) Compute diluted earnings per share for 2013.

b) Assume same facts as those for Part (a), except the 40 bonds were issued on August 2013 (rather than in 2012), and none havebeen converted or redeemed.

Reference no: EM132920044

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