Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per share data). Net income $2,436 Earnings per share: Basic $2.08 Diluted $2.06 Weighted average shares outstanding: Basic 1,172

Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per share data). Net income $2,436 Earnings per share: Basic $2.08 Diluted $2.06 Weighted average shares outstanding: Basic 1,172

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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Question

Oil Services Corp. reports the following EPS data in its 2014 annual report (in millions except per
share data).
Net income
$2,436
Earnings per share:
Basic
$2.08
Diluted
$2.06
Weighted average shares
outstanding:
Basic
1,172
a.Recompute basic earnings per share.
b.How many weighted average shares were dilutive in 2014?

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