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At December 31, 2024, the financial statements of Hollingsworth Industries included the following: $ 560 million million Net income for 2024 Bonds payable, 8%, convertible into 36 million shares of common stock $ 300 Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 1 400 30 Additional data: The bonds payable were issued at par in 2022. The tax rate for 2024 was 25%. Compute basic and diluted EPS for the year ended December 31, 2024. million million

At December 31, 2024, the financial statements of Hollingsworth Industries included the following: $ 560 million million Net income for 2024 Bonds payable, 8%, convertible into 36 million shares of common stock $ 300 Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 1 400 30 Additional data: The bonds payable were issued at par in 2022. The tax rate for 2024 was 25%. Compute basic and diluted EPS for the year ended December 31, 2024. million million

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Net income for 2024 $ 560 million Bonds payable, 8%, convertible into 36 million shares of common stock $300 million Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 1 400 30 Additional data: The bonds payable were issued at par in 2022. The tax rate for 2024 was 25%. Compute basic and diluted EPS for the year ended December 31, 2024. million million
Transcribed Image Text:At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Net income for 2024 $ 560 million Bonds payable, 8%, convertible into 36 million shares of common stock $300 million Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 1 400 30 Additional data: The bonds payable were issued at par in 2022. The tax rate for 2024 was 25%. Compute basic and diluted EPS for the year ended December 31, 2024. million million
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