On January 2, 2021, Bramble Corp. issued at par $ 301000 of 6% convertible bonds. Each $1,000 bond is convertible into 60 shares. No bonds were converted during 2021. Bramble had 104000 shares of common stock outstanding during 2021. Bramble's 2021 net income was $ 153000 and the income tax rate was 35%. Bramble's diluted earnings per share for 2021 would be (rounded to the nearest penny)
On January 2, 2021, Bramble Corp. issued at par $ 301000 of 6% convertible bonds. Each $1,000 bond is convertible into 60 shares. No bonds were converted during 2021. Bramble had 104000 shares of common stock outstanding during 2021. Bramble's 2021 net income was $ 153000 and the income tax rate was 35%. Bramble's diluted earnings per share for 2021 would be (rounded to the nearest penny)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 2, 2021, Bramble Corp. issued at par $ 301000 of 6% convertible bonds. Each $1,000 bond is convertible into 60 shares. No bonds were converted during 2021. Bramble had 104000 shares of common stock outstanding during 2021. Bramble's 2021 net income was $ 153000 and the income tax rate was 35%. Bramble's diluted earnings per share for 2021 would be (rounded to the nearest penny)
$ 1.40.
$ 1.47.
$ 1.35.
$ 1.24.
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