Dilutive Securities and Earnings Per Share

On January 1, 2017, Windsor Company issued 10-year, $2,200,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Windsor common stock. Windsor’s net income in 2017 was $295,000, and its tax rate was 40%. The company had 97,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017.

Just answer Letter A. show your solution in a word document

(a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.)

Diluted earnings per share

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