Metlock Corporation had net income for the current fiscal year of $ 952, 200, and common shares outstanding of 92,000. There were no changes to Metlock's common shares during the year.Metlock also had outstanding a $1,000,000,9 % bond sold in a previous year that was convertible to 82,000 common shares. In addition, Metlock sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 13% bond, convertible to 76,000shares. Metlock was subject to a tax rate of 27 %. Calculate diluted earnings per share. (Round calculations of EPS to 3 decimal places, e.g. 3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Basic EPS Sub Total Diluted EPS $ $ Numerator Denominator EPS 101

Metlock Corporation had net income for the current fiscal year of $ 952, 200, and common shares outstanding of 92,000. There were no changes to Metlock's common shares during the year.Metlock also had outstanding a $1,000,000,9 % bond sold in a previous year that was convertible to 82,000 common shares. In addition, Metlock sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 13% bond, convertible to 76,000shares. Metlock was subject to a tax rate of 27 %. Calculate diluted earnings per share. (Round calculations of EPS to 3 decimal places, e.g. 3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Basic EPS Sub Total Diluted EPS $ $ Numerator Denominator EPS 101

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 7MCQ

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