Business, 18.08.2021 20:20 oaaliyah505

On January 2, 2021, L Co. issued at face value $22,000 of 3% bonds convertible in total into 1,400 shares of L's common stock. No bonds were converted during 2021. Throughout 2021, L had 1,400 shares of common stock outstanding. L's 2021 net income was $4,000. L's income tax rate is 30%. No potential common shares other than the convertible bonds were outstanding during 2021. L's diluted earnings per share for 2021 would be:

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On January 2, 2021, L Co. issued at face value $22,000 of 3% bonds convertible in total into 1,400 s...