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Marion Company has 30,000 shares of common stock outstanding during all of 2016. This common stock has been selling at an average market price of $45 per share. Marion also has outstanding for the entire year compensatory share options to purchase 4,000 shares of common stock at $32 per share. The unrecognized compensation cost (net of tax) relating to these share options is $3 per share. During 2016, Marion earned income of $36,000 after income taxes of 30%.

1. Compute Marion's 2016 diluted earnings per share. If required, round your answer to two decimal places.
2. Assume Marion uses IFRS. Compute its earnings per share assuming IFRS is used. If required, round your answer to two decimal places.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92750247

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