At december 31 2016 the financial statements of, Ask an Expert

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At December 31, 2016, the financial statements of Hollingsworth Industries included the following:

Net income for 2016

$560 million

Bonds payable, 10%, convertible into 36 million shares of common stock

$300 million

Common stock:

Shares outstanding on January 1

400 million

Treasury shares purchased for cash on September 1

30 million

Required:

Compute basic and diluted EPS for the year ended December 31, 2016

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92862528

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