Business, 18.02.2020 02:00 yungdaggerdic4543

In 2019, Chirac Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Chirac had revenues of $17,500 and expenses other than interest and taxes of $8,400 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,000 shares of common stock were outstanding; none of the bonds was converted or redeemed.

Required:

a. Compute basic and diluted EPS for 20x1.
b. Assume the same facts as for part 1), except that the 60 bonds were issued on September 1, 20x1 (rather than 20x0), and none of them was converted. Compute basic and diluted EPS for 20x1.

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In 2019, Chirac Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of...

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