Bonita Industries had 205000 shares of common stock, 19100 shares of convertible preferred stock, and $1496000 of 5% convertible bonds outstanding during 2021. The preferred stock is convertible into 39000 shares of common stock. During 2021, Bonita paid dividends of $0.90 per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $592000 and the income tax rate was 30%.
What is the basic earnings per share for 2011 is (rounded to the nearest cent)
a. $2.94.
b. $3.22.
c. $3.35.
d. $3.60.
What is the diluted earnings per share for 2011 is (rounded to the nearest cent)
a. $2.77.
b. $2.81.
c. $3.05.
d. $3.33.
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