Essay
On December 31,2014,Luanne Inc.had outstanding 180,000 shares of common stock.Net income for 2014 was $285,000.Outstanding options (granted July 1,2014)to purchase 15,000 shares of common stock at $20 per share had not been exercised by December 31,2014.During 2014,market prices for Luanne's common stock were:
(1)Compute the basic earnings per common share in 2014.
(2)Compute the diluted earnings per common share in 2014.
Correct Answer:
Verified
Correct Answer:
Verified
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