Problem 6-34 (Algo) (LO 6-6) Primus, Incorporated, owns all outstanding stock of Sonston, Incorporated. For the current year, Primus reports net income (exclusiv of any investment income) of $680,000. Primus has 100,000 shares of common stock outstanding. Sonston reports net income of $280,000 for the period, with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding th allow the holder to acquire shares at $9.00 per share. The value of this stock was $18 per share throughout the year. Primus owns 3,500 of these warrants. Required: What amount should Primus report for diluted earnings per share? Note: Round your intermediate percentage value to the nearest whole number and the final answer to 2 decimal places. Diluted earnings per share
Problem 6-34 (Algo) (LO 6-6) Primus, Incorporated, owns all outstanding stock of Sonston, Incorporated. For the current year, Primus reports net income (exclusiv of any investment income) of $680,000. Primus has 100,000 shares of common stock outstanding. Sonston reports net income of $280,000 for the period, with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding th allow the holder to acquire shares at $9.00 per share. The value of this stock was $18 per share throughout the year. Primus owns 3,500 of these warrants. Required: What amount should Primus report for diluted earnings per share? Note: Round your intermediate percentage value to the nearest whole number and the final answer to 2 decimal places. Diluted earnings per share
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 8PB: Tent Tarp Corporation is a manufacturer of outdoor camping equipment. The company was incorporated...
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