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Determine diluted earnings per share for the year ended

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Reference no: EM133016831

Question - In 2019, Blossom Ltd. issued $46,000 of 7% bonds at par, with each $1,000 bond being convertible into 100 common shares. The company had revenues of $79,800 and expenses of $43,300 for 2020, not including interest and taxes (assume a tax rate of 20%). Throughout 2020, 1,800 common shares were outstanding, and none of the bonds were converted or redeemed. (For simplicity, assume that the convertible bonds' equity element is not recorded.) Determine diluted earnings per share for the year ended December 31, 2020.

Reference no: EM133016831

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