On January 1, 2018, Ramos Co. had $10,000 of 6% convertible bonds, convertible into 1,000 shares of Ramos's common stock. No bonds were converted during 2018. Throughout 2018, Ramos had 1,000 shares of common stock outstanding. Ramos's 2018 net income was $3,000, and its income tax rate is 30%.
Ramos's diluted earnings per share for 2018 would be:
A) $1.50 B) $1.71 C) $180 D) $3.42
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Home » Business » On January 1, 2018, Ramos Co. had $10,000 of 6% convertible bonds, convertible into 1,000 shares of Ramos's common stock. No bonds were converted during 2018. Throughout 2018, Ramos had 1,000 shares of common stock outstanding.