Business, 13.08.2019 00:30 kenna0

The following information is relevant to the computation of chan co.'s earnings per share to be disclosed onchan's income statement for the year ending december 31: net income for 2002 is $600,000.$5,000,000 face value 10-year convertible bonds outstanding on january 1. the bonds were issued fouryears ago at a discount which is being amortized in the amount of $20,000 per year. the stated rate ofinterest on the bonds is 9o/o, and the bonds were issued to yield10°/o. each $1,000 bond is convertibleinto 20 shares of chan's common stock. chan's corporate income tax rate is 25°/o. chan has no preferred stock outstanding, and no other convertible securities. what amount should be usedas the numerator in the fraction used to compute chan's diluted earnings per share assuming that the bondsare dilutive securities? a. $130,000b. $247,500c. $952,500d. $1,070,000

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