Business, 25.11.2021 14:10 tori3981

Sheridan Company had net income for the year of $728000 and a weighted average number of common shares outstanding during the period of 248000 shares. The company has a convertible bond issue outstanding. The bonds were issued four years ago at par ($2900000), carry a 8% interest rate, and are convertible into 50800 shares of common stock. The company has a 45% tax rate. Diluted earnings per share are: a. $2.86.
b. $3.21.
c. $2.72.
d. $2.01.

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