E16-26. Please show all workings clearly. E16.26 (LO 1, 5) (EPS with Convertible Bonds and Preference Shares) On January1, 2022, Lund SA issued 10-year, €3,000,00o face value, 6% bonds, at par. Each €1,000bond is convertible into 15 ordinary shares of Lund. Lund's net income in 2023 was€240,000, and its tax rate was 40%. Interest expense on the liability component in 2023was €210,000. The company had 100,000 ordinary shares outstanding throughout 2022.None of the bonds were converted in 2022.Instructionsa. Compute diluted earnings per share for 2022.b. Compute diluted earnings per share for 2022, assuming the same facts as above, exceptthat €1,000,00o of 6% convertible preference shares were issued instead of the bonds.Each €100 preference share is convertible into 5 ordinary shares of Lund.

Answered: Compute diluted earnings per share for…

Business

Accounting

Compute diluted earnings per share for 2022.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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