Tortellini plc has basic earnings of 3 million for the year ended 30 November 2021...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Tortellini plc has basic earnings of 3 million for the year ended 30 November 2021 and a weighted average number of shares of 10 million. Tortellini pays corporation tax at 20%. It has a 5m of 6% convertible loan stock that can be converted in 2023 into 24 shares per 100 of loan stock. Calculate the diluted EPS for Tortellini for the year ended 30 November 2021. (5 marks) Show your answer in 3 parts:
(i) The revised earnings
(ii) The revised number of shares
(iii) The diluted EPS, stating your answer to 1 decimal place.
ANSWER ALL PARTS ASAP PLEASE
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
