Rockland Corporation Earned Net Income Of 300000 In 2010 And

Rockland Corporation earned net income of $300,000 in 2010 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $800,000 of 10% bonds, which are convertible into 16,000 shares of common. Rockland’s tax rate is 40 percent. Compute Rockland’s 2010 diluted earnings per share.

Posted in Uncategorized