Multiple Choice
At December 31,2013,BCD had 700 common shares outstanding.On September 1,2014,an additional 300 common shares were issued.In addition,BCD had $20,000 of 8 percent,convertible bonds outstanding December 31,2013,which are convertible into 400 common shares.No bonds were converted into common shares in 2014.Net income for the year ended December 31,2014,was $6,000.Assuming the income tax rate was 50 percent,what should be the basic earnings per share for the year ended December 31,2014?
A) $7.50
B) $5.67
C) $5.00
D) $4.33
Correct Answer:
Verified
Correct Answer:
Verified
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