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On January 2, 2025, Pharoah Co. issued at par $2020000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2025. Pharoah had 197000 shares of common stock outstanding during 2025. Pharoah's 2025 net income was $902000 and its income tax rate was 30%. Pharoah's diluted earnings per share for 2025 was O $4.58. O $4.71. O $4.54. O $4.95.

On January 2, 2025, Pharoah Co. issued at par $2020000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2025. Pharoah had 197000 shares of common stock outstanding during 2025. Pharoah's 2025 net income was $902000 and its income tax rate was 30%. Pharoah's diluted earnings per share for 2025 was O $4.58. O $4.71. O $4.54. O $4.95.

FINANCIAL ACCOUNTING
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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Current Attempt in Progress On January 2, 2025, Pharoah Co, issued at par $2020000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2025. Pharoah had 197000 shares of common stock outstanding during 2025. Pharoah's 2025 net income was $902000 and its income tax rate was 30%. Pharoah's diluted earnings per share for 2025 was O $4.58. O $4.71. O $4.54. O $4.95. Save for Later Attempts: 0 of 1 used Submit Answer
Transcribed Image Text:Current Attempt in Progress On January 2, 2025, Pharoah Co, issued at par $2020000 of 6% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2025. Pharoah had 197000 shares of common stock outstanding during 2025. Pharoah's 2025 net income was $902000 and its income tax rate was 30%. Pharoah's diluted earnings per share for 2025 was O $4.58. O $4.71. O $4.54. O $4.95. Save for Later Attempts: 0 of 1 used Submit Answer
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