Business, 23.04.2020 04:11 shannonderemer

On January 2, 2018, Bonita Industries issued at par $2020000 of 5% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2018. Bonita had 197000 shares of common stock outstanding during 2018. Bonita’s 2018 net income was $902000 and the income tax rate was 25%. Bonita’s diluted earnings per share for 2018 would be (rounded to the nearest penny

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On January 2, 2018, Bonita Industries issued at par $2020000 of 5% convertible bonds. Each $1000 bon...