Reference no: EM133093214

Question - Bonita Industries had 193000 shares of common stock, 19500 shares of convertible preferred stock, and $607000 of 10% convertible bonds outstanding during 2021. The preferred stock is convertible into 39400 shares of common stock. During 2021, Bonita paid dividends of $0.54 per share on the common stock and $1.80 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $370000 and the income tax rate was 25%. Determine Basic earnings per share for 2021?