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Given the following data, compute diluted earnings per share.

(Diluted Earnings per share = Adjusted Earnings After Taxes / Shares Outstanding + All convertible securities)

Common Stock (500,000 shares at $5 par) $2,500,000
8% convertible debentures (5,000 bonds at $1,000 each) 5,000,000
Retained Earnings 5,000,000
Earnings before interest and taxes 2,800,000
Interest 400,000
Earnings before taxes 2,400,000
Earnings after taxes (50%) $1,200,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M944264

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