ACCT 304 Chapter 16 QUIZ 

ACCT 304 Chapter 16 QUIZ 
E16 26 EPS with Options Various Situations Zambrano Companys net income for 2012 is $40000 The
only potentially dilutive securities outstanding were 1,000 options issued during 2011, each exercisable for
one share at $8. None has been exercised, and 10,000 shares of common were outstanding during 2012. The
average market price of Zambrano- stock during 2012 was $20.

Instructions
(a) Compute diluted earnings per share. (Round to the nearest cent.)
(b) Assume the same facts as those assumed for part (a), except that the 1,000 options were issued
on October 1, 2012 (rather than in 2011). The average market price during the last 3 months of 2012
was $20

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