Blossom Corporation earned net income of $200,000 in 2020 and had 80,000 common shares outstanding...
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Blossom Corporation earned net income of $200,000 in 2020 and had 80,000 common shares outstanding throughout the year. Also outstanding all year was $700,000 of 10% bonds that are convertible into 26,000 common shares. Blossoms tax rate is 30%. Calculate Blossoms 2020 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share $
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