At December 31, 2024, the financial statements of Hollingsworth Industries included the following: ...
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Accounting
At December 31, 2024, the financial statements of Hollingsworth Industries included the following:
| Net income for 2024 | $ 610 | million |
|---|---|---|
| Bonds payable, 8%, convertible into 49 million shares of common stock | $ 400 | million |
| Common stock: | ||
| Shares outstanding on January 1 | 550 | million |
| Treasury shares purchased for cash on September 1 | 36 | million |
Additional data:
The bonds payable were issued at par in 2022. The tax rate for 2024 was 25%.
Required:
Compute basic and diluted EPS for the year ended December 31, 2024.
Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places.
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