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Compute basic earnings per share

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Question - On Mar-01-2012, Foley Corporation issued $2,500,000 of 4.0% cumulative convertible preference shares.

Each $80 preference share is convertible into 8 ordinary shares.

Foley's net income for 2012 was 525,000.

The tax rate is net income for 25.0%

The weighted-average shares for the year 250,000 Instructions

1. Compute Basic Earnings Per Share?

2. Compute Diluted Earnings Per Share?

Reference no: EM132061669

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