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Coco · 2024年10月03日

为什么C不对

  1. CFA I
  2. FRA

NO.PZ2023081403000027

问题如下：

Q. Laurelli Builders (LB) reported the financial data shown in Exhibit 1 for year-end 31 December:

Exhibit 1:

Laurelli Builders

Which statement about the calculation of LB’s EPS is most accurate?

选项：

A.LB’s basic EPS is USD1.12. B.LB’s diluted EPS is equal to or less than its basic EPS. C.The weighted average number of shares outstanding is 2,210,000.

解释：

B is correct. LB has warrants in its capital structure; if the exercise price is less than the weighted average market price during the year, the effect of their conversion is to increase the weighted average number of common shares outstanding, causing diluted EPS to be lower than basic EPS. If the exercise price is equal to the weighted average market price, the number of shares issued equals the number of shares repurchased. Therefore, the weighted average number of common shares outstanding is not affected and diluted EPS equals basic EPS. If the exercise price is greater than the weighted average market price, the effect of their conversion is anti-dilutive. As such, they are not included in the calculation of basic EPS. LB’s basic EPS is USD1.22 [= (USD3,350,000 – USD430,000)/2,400,000]. Stock dividends are treated as having been issued retroactively to the beginning of the period.

如题

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王园圆_品职助教 · 2024年10月03日

同学你好，请看以下讲义截图关于weighted average shares的计算说明，会影响weighted average shares的只有新发股票，股票型分红，拆股等

所以warrants是不需要在计算weighted average shares的时候考虑的

本题只有期初的股票和6月1日的股票分红会影响weighted average shares，股票分红是不需要考虑时间加权的，所以weighted average shares = 2020000+380000 = 240000，C算的不对哦

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