Below is select information for the current year for P and S companies. P owns...
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Accounting
Below is select information for the current year for P and S companies. P owns 100% of S. There are no intercompany transactions or adjustments required as a result of the acquisition.
P's shareholders can convert the bonds to 2,000 shares of common stock. The annual interest (net of tax) that P pays on the bonds is $4,200.
Compute
1) Diluted EPS as it would appear on the consolidated income statement for the current year.
2) What is the numerator in your computation?
3) What is the denominator in your computation?
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