A company has a dilutive EPS for 20X1 of 2.00 per share. Net income for...
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A company has a dilutive EPS for 20X1 of 2.00 per share. Net income for 20X1 was $270,000 and there are no preferred shares. The company, however, has had outstanding for the entire year, bonds with a carrying amount of $3,000,000 bearing interest at 4%. Bondholders can convert each $1,000 bond into 35 common shares. The income tax rate is 40%. What is the basic EPS for 20X1?
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