I need help ASAP. Thank you. Brief Exercise 16-15 Sunland Corporation reported n

Question

I need help ASAP. Thank you.

Brief Exercise 16-15 Sunland Corporation reported net income of $311,750 in 2017 and had 199,000 shares of common stock outstanding throughout the year. Also outstanding all year were 48,000 options to purchase common stock at $10 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. iluted eamings per share Click if you would like to Show Work for this question: Qpen Show Work Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Stock option = 48000-(48000*10/15) = 16000

Total diluted share = 199000+16000 = 215000 share

Diluted earning per share = 311750/215000 = 1.45 per share

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