The Kindbird Corporation issued 10 year $5380000 par 7% callable convertible subordinated debentures on January...
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The Kindbird Corporation issued 10 year $5380000 par 7% callable convertible subordinated debentures on January 2 2017. The bonds have a par value of $1000 with interest payable annually. The current conversion ratio is 14:1 and in 2 years it will increase to 17:1. At the date of issue the bonds were sold at 99. Bond discount is amortized on a straight line basis. Kingbirds effective tax was 40%. Net income in 2017 was $9000000 and the company had 1980000 shares outstanding during the entire year. a. compute both basic and diluted earnings per share. basic earnings per share diluted earnings per share
a. compute both basic and diluted earnings per share.
basic earnings per share
diluted earnings per share
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