Sarasota Corporation earned net income of $363,600 in 2020 and had 100,000 shares of common...
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Sarasota Corporation earned net income of $363,600 in 2020 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $800,000 of 5% bonds, which are convertible into 17,000 shares of common. Sarasotas tax rate is 20 percent. Compute Sarasotas 2020 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share $enter diluted earnings per share in dollars rounded to 2 decimal places
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