At the beginning of the fiscal year, june 1, fox corporation had 80,000 shares of common stock outstanding. also outstanding was $200,000 of 8% convertible bonds that had been issued at $1,000 par. the bonds were convertible into 20,000 shares of common stock; however, no bonds were converted during the year. fox's tax rate is 34% and net income for the year was $107,000. diluted earnings per share of fox common stock for the fiscal year ended may 31 was

The Diluted earnings per share of Fox common stock for the fiscal year ended May 31 was $1.1756

Explanation:

The bonds were not converted during the fiscal year. The Diluted earning per share will be claculated as follows:

Diluted earning per share

= [net income available to shareholders + bond interest (1 - tax rate)] / Weighted average number of shares outstanding

= [$107000 + $200000*8%*(1 - 34%)]/(80000 + 20000)  

= [$107000 + 16000*(0.66)]/(100000)

= [117560]/(100000)

= $1.1756

Therefore, The Diluted earnings per share of Fox common stock for the fiscal year ended May 31 was $1.1756

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.