On January 3, 2020, Robert PIc issued at par 100,000 of 6% convertible bonds. Each...
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Accounting
On January 3, 2020, Robert PIc issued at par 100,000 of 6% convertible bonds. Each 1,000 bond is convertible into 20 ordinary shares. Robert had 35,000 ordinary shares outstanding during 2020. Robert's 2020 net income was 50,000 and the income tax rate was 30%. Robert's diluted earnings per share for 2020 would be:
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