Franklin Company Had 100 Shares Of Common Stock Issued And Outstanding At December 31, 2017. On July 1, 2018, Ferris Issued A 10 Percent Stock Dividend. Unexercised Stock Options To Purchase 20 Shares Of Common Stock (adjusted For The 2018 Stock Dividend) At $20 Per Share Were Outstanding At The Beginning And End Of 2018. The Average Market Price Of Franklin’s Common Stock (which Was Not Affected By The Stock Dividend) Was $25 Per Share During 2018. The Ending Market Price Was $40. Net Income For The Year Ended December 31, 2018, Was $2,200. What Was Franklin’s 2018 Diluted Earnings Per Share, Rounded To The Nearest Cent?

Franklin Company had 100 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018, Ferris issued a 10 percent stock dividend. Unexercised stock options to purchase 20 shares of common stock (adjusted for the 2018 stock dividend) at $20 per share were outstanding at the beginning and end of 2018. The average market price of Franklin’s common stock (which was not affected by the stock dividend) was $25 per share during 2018. The ending market price was $40. Net income for the year ended December 31, 2018, was $2,200. What was Franklin’s 2018 diluted earnings per share, rounded to the nearest cent?

- November 14, 2022 - Edwin Tunner

Franklin Company had 100 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018, Ferris issued a 10 percent stock dividend. Unexercised stock options to purchase 20 shares of common stock (adjusted for the 2018 stock dividend) at $20 per share were outstanding at the beginning and end of 2018. The average market price of Franklin’s common stock (which was not affected by the stock dividend) was $25 per share during 2018. The ending market price was $40. Net income for the year ended December 31, 2018, was $2,200. What was Franklin’s 2018 diluted earnings per share, rounded to the nearest cent?

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