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Compute the appropriate earnings per share amount

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Problem - Daniel Company had 30000 shares of common stock outstanding on January 1 and issued an additional 9000 on August 1 of 2020. The company also has $100000 of 8% convertible bonds outstanding during the year. Each $1000 bond is convertible into 5 shares of common stock. Daniel had after-tax net income for the year of $160000, and the tax rate was 30%. Compute the appropriate earnings per share amount(s) to be reported on Daniel Company's 2020 income statement.

Reference no: EM132887148

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