On January 2, 2018, Ava Co. issued at face value $91,900 of 6% bonds convertible...
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Accounting
On January 2, 2018, Ava Co. issued at face value $91,900 of 6% bonds convertible in total into 7,289 shares of Ava's common stock. No bonds were converted during 2018.
Throughout 2018, Ava had 10,000 shares of common stock outstanding. Ava's 2018 net income was $87,780. The income tax rate is 21%.
No potential common shares other than the convertible bonds were outstanding during 2018. The numerator in the diluted earnings per share calculation for 2018 would be: $___________
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