Reference no: EM132857309
Question - Basic and diluted earnings per share Bartov Corp. had the following information for calendar 2020:
Net income $5,500,000
Weighted average common shares outstanding, 1,000,000 shares $10, no-par, cumulative preferred shares, 20,000 outstanding, convertible into 125,000 common shares
8% convertible bonds; convertible into 100,000 common shares $ 7,500,000
500,000 call options exercisable at $ 20 per share
The common and preferred shares and the convertible bonds were outstanding from the beginning of the year. The average market price of the common shares in 2020 was $ 25. The income tax rate for 2020 is 20%.
Required -
a) Calculate basic EPS.
b) Computed the incremental EPS for each potentially dilutive security and rank them according to their dilutive effects.
c) Calculate diluted EPS.
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