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Compute gino eps and diluted earnings per share

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Problem 1: On January 2, 2019, Gino Co. issued at par $200,000 of 9% convertible bonds. Each $1,000 bond is convertible into 20 shares. No bonds were converted during 2019. Gino had 50,000 shares of common stock outstanding during 2019. Gino's 2019 net income was $150,000 and the income tax rate was 25%. Compute Gino's EPS and diluted earnings per share for 2019 (rounded to the nearest penny). Show all computations

Reference no: EM132697473

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