Calculate coronado basic earnings per share

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Coronado Corporation had net income for the current fiscal year of $648,000, and common shares outstanding of 96,000. There were no changes to Coronado's common shares during the year. Coronado also had outstanding a $1,000,000, 9% bond sold in a previous year that was convertible to 64,000 common shares. In addition, Coronado sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 12% bond, convertible to 58,200 shares. Coronado was subject to a tax rate of 31%. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately).

Question 1: Calculate Coronado's basic earnings per share and diluted earnings per share.

Reference no: EM132584102

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