Please Show Work and explain Brief Exercise 16-15 Your answer is incorrect. Try

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Please Show Work and explain

Brief Exercise 16-15 Your answer is incorrect. Try again Bridgeport Corporation reported net income of $391,320 in 2017 and had 206,000 shares of common stock outstanding throughout the year. Also outstanding all year were 57,000 options to purchase common stock at $12 per share. The average market price of the stock during the year was $15 Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share Click if you would like to Show Work for this question: Open Show Work 1.74

Explanation / Answer

Adjusted diluted shares = 57000-(57000*12/15) = 11400+206000 = 217400 Shares

Diluted earning per share = Adjusted net income/Adjusted diluted shares

= 391320/217400

Diluted earning per share = 1.80 per share

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