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Calculate diluted earnings per share

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Reference no: EM132845584

Question - Schwabisch Hall Corp provides the following data for calendar 2020:

Net income $2400,000

Transactions in Common Shares

Jan 1: Beginning (Cumulative : 1,000,000)

March 1: Purchase of treasury shares (Change 60,000) (Cumulative 1,880,000)

Jun 1: Shares split 2 for 1 (Change 120,000) (Cumulative 2,000,000)

8% Cumulative Convertible preferred share (no par) convertible into 200,000 common shares adjusted for split on June 1 = $ 1,000,000

Stock options

Exercisable at the option price of $ 25 per share

Ave. Market price in 2020 was $30 (market price and option price adjusted for split) = 60,000 shares

Required -

A) Calculate basic earnings per share for 2020?

B) Calculate diluted earnings per share for 2020?

Reference no: EM132845584

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