Jet Corporation had 8 million shares of common stock outstanding during the current calendar year.On July 1,Jet issued ten thousand $1,000 face value,convertible bonds.Each bond is convertible into 50 shares of common stock.The bonds were issued at face amount and pay interest quarterly for 20 years.They have a stated rate of 12%.Jet had income before tax of $30 million and a net income of $18 million.Jet would report the following EPS data (rounded):

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The Answer of Jet Corporation had 8 million shares of common stock outstanding during the current calendar year.On July 1,Jet issued ten thousand $1,000 face value,convertible bonds.Each bond is convertible into 50 shares of common stock.The bonds were issued at face amount and pay interest quarterly for 20 years.They have a stated rate of 12%.Jet had income before tax of $30 million and a net income of $18 million.Jet would report the following EPS data (rounded):

Jet Corporation Had 8 Million Shares of Common Stock Outstanding