Calculate diluted earnings per share. (Round calculations of EPS to 3 decimal places, e.g. 3.545...

80.2K

Verified Solution

Question

Accounting

imageimage

image Calculate diluted earnings per share. (Round calculations of EPS to 3 decimal places, e.g. 3.545 and provide final answer to 2 decimal laces, e.g. 15.25.) Tamarisk Corporation had net income for the current year ending December 31, 2023 of $1,231,100. Throughout 2023 the following items were outstanding: - 398,000 common shares - 19,000 Class A \$3 cumulative preferred shares that were convertible to common shares at a rate of 1:1 - 48,000 Class B $4 non-cumulative preferred shares that were convertible at a rate of 1 common share for every 2 preferred shares. - $525,000,8% bonds that were convertible to 15,000 common shares - $322,000,10% bonds convertible to 10,000 common shares No dividends were declared or paid in 2023. Tamarisk's tax rate is 25%. Diluted EPS \$

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students