On June ?Whispering Company and Metlock Company merged to form Bonita Inc. A total of ?shares were issued to complete the merger. The new corporation reports on a calendaryear basis.
On April ?the company issued an additional ?shares of stock for cash. All ?shares were outstanding on December
Bonita Inc. also issued $ ?of year, ?convertible bonds at par on July ?Each $ ?bond converts to ?shares of common at any interest date. None of the bonds have been converted to date.
Bonita Inc. is preparing its annual report for the fiscal year ending December ?The annual report will show earnings per share figures based upon a reported aftertax net income of $The tax rate is
Determine the following for
a ?The number of shares to be used for calculating: Round answers to ?decimal places, eg
?Basic earnings per share
shares
?Diluted earnings per share
shares
