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Santana corporation has 420000 shares of common stock

Question - Santana Corporation has 420,000 shares of common stock outstanding throughout 2018. In addition, the corporation has 4,500, 20-year, 8% bonds issued at par in 2016. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/19. During the year 2018, the corporation earned $714,840 after deducting all expenses. The tax rate was 30%.

Compute the proper earnings per share for 2018.

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Accounting Basics: Santana corporation has 420000 shares of common stock

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