On January 2, 2025, Sheridan Co. issued at par $290000 of 6% convertible bonds. Each $1000 bond is convertible into 60 shares. No bonds were converted during 2025. Sheridan had 106000 shares of common stock outstanding during 2025. Sheridan's 2025 net income was $179090 and its income tax rate was 30%. Sheridan's diluted earnings per share for 2025 is O $1.69. O $1.59. $1.55. O $1.45.
On January 2, 2025, Sheridan Co. issued at par $290000 of 6% convertible bonds. Each $1000 bond is convertible into 60 shares. No bonds were converted during 2025. Sheridan had 106000 shares of common stock outstanding during 2025. Sheridan's 2025 net income was $179090 and its income tax rate was 30%. Sheridan's diluted earnings per share for 2025 is O $1.69. O $1.59. $1.55. O $1.45.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 26E: Tama Companys capital structure consists of common stock and convertible bonds. At the beginning of...
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![On January 2, 2025, Sheridan Co. issued at par $290000 of 6% convertible bonds. Each $1000 bond is convertible into 60 shares. No
bonds were converted during 2025. Sheridan had 106000 shares of common stock outstanding during 2025. Sheridan's 2025 net
income was $179090 and its income tax rate was 30%. Sheridan's diluted earnings per share for 2025 is
$1.69.
$1.59.
$1.55.
O $1.45.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c3cae82-9b53-4c52-a43f-df67c2745814%2F92b76416-37ad-43f9-a05e-4dd1782ddad6%2Fgwfl2fi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 2, 2025, Sheridan Co. issued at par $290000 of 6% convertible bonds. Each $1000 bond is convertible into 60 shares. No
bonds were converted during 2025. Sheridan had 106000 shares of common stock outstanding during 2025. Sheridan's 2025 net
income was $179090 and its income tax rate was 30%. Sheridan's diluted earnings per share for 2025 is
$1.69.
$1.59.
$1.55.
O $1.45.
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