On october 15, a company received $15,000 cash as a down payment on a consulting contract. the amount was credited to unearned consulting revenue. by october 31, 10% of the services required by the contract were completed. the company will record consulting revenue of $1,500 from this contract for october.
true / false.

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e.g. $2.55.) diluted earnings per share