Riverbed Corporation earned $396,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $21 per share during the period. Also outstanding were 15,000 warrants that could be exercised to purchase one share of common stock for $14 for each warrant exercised.
Required:
a. Are the warrants dilutive?
b. Compute basic earnings per share.
c. Compute diluted earnings per share.
Answers: 2
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