During 2010, Sanchez, Inc.had the following convertible securities outstanding:
Sanchez, Inc.has an income tax rate of 40%.Its reported net income for 2010 was $88, 000, and it had 22, 000 shares of common stock outstanding all year.
Required:
Calculate basic and diluted earnings per share for Sanchez.

Question

During 2010, Sanchez, Inc.had the following convertible securities outstanding:
  Sanchez, Inc.has an income tax rate of 40%.Its reported net income for 2010 was $88, 000, and it had 22, 000 shares of common stock outstanding all year.
Required:
Calculate basic and diluted earnings per share for Sanchez.

Quizplus · Accepted Answer

The Answer of During 2010, Sanchez, Inc.had the following convertible securities outstanding:
  Sanchez, Inc.has an income tax rate of 40%.Its reported net income for 2010 was $88, 000, and it had 22, 000 shares of common stock outstanding all year.
Required:
Calculate basic and diluted earnings per share for Sanchez.