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Asker · 2020年10月26日

问一道题：NO.PZ2016012102000039

  1. CFA I
  2. FRA

问题如下：

Given the following information, calculate the company's diluted EPS:

company has net income of $200,000 and 150,000 common shares outstanding from the beginning of the year. Company also has 1,000, 8%, $1,000 par bonds convertible into 24 shares each,

outstanding as of the beginning of the year. The tax rate is 35%.

选项：

A.

$1.1.

B.

$1.3

C.

$2.17.

解释：

Basic EPS = $200,000150,000=$1.3\frac{\$200,000}{150,000}=\$1.3

Check if the convertible bonds are dilutive:

Impact of numerator= (1,000 x 1,000 x 0.08) x (1 - 0.35) = $52,000

Impact of denominator = (1,000 x 24) = 24,000 shares

Impact per share =

$52,00024,000shares=$2.17\frac{\$52,000}{24,000shares}=\$2.17

$2.17 > basic EPS of $1.3, so the bonds are antidilutive. Then the diluted EPS = basic EPS = $1.3.

想问下在分子做调整的时候，Impact of numerator= (1,000 x 1,000 x 0.08) x (1 - 0.35) = $52,000

为啥这里不需要再乘以 24 呢，1000 个面值 1000 的 bond，每个可以转出 24 份股票，那总的N/I 调整应该是*24？

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已采纳答案

Olive_品职助教 · 2020年10月26日

嗨，从没放弃的小努力你好：


融资所得现金流不属于损益表中的“收入”，影响的只是interest。计算interst要看bond的总金额，跟股票没有关系。


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