What would mize diluted earnings per share

Problem:

On January 2, 2011, Mize Co. (Morton) issued at par $300,000 of 9% convertible bonds. Each $1,000 bond is convertible into 30 shares. No bonds were converted during 2007. Mize had 50,000 shares of common stock outstanding during 2011. Mize 's 2011 net income was $160,000 and the income tax rate was 30%. What would Mize's diluted earnings per share for 2011 be (rounded to the nearest penny)?

Solution Preview :

Prepared by a verified Expert
Finance Basics: What would mize diluted earnings per share
Reference No:- TGS01806671

Now Priced at $20 (50% Discount)

Recommended (99%)

Rated (4.3/5)