-/1 !!! Question 14 of 15 View Policies Current Attempt in Progress Sheridan Corporation issued 20-year $9,700,000 face value, 8% convertible debentures on January 1, 2020. The bonds have a par value of $1,000, with interest payable semiannually. The initial conversion ratio is 10:1, and in 3 years it will increase to 12:1 At the date of issue, the bonds were sold at 104. Bond premium is amortized on a straight-line basis. Sheridan's effective tax rate was 40%. Net income in 2020 was $29.170,000, and the company had 12,780,000 common shares issued and outstanding during the entire year Compute both basic and diluted earnings per share. (Round answers to 2 decimal places, os 2.55) $ Basic earnings per share Diluted earnings per share $ e Textbook and Media Attempts:0 of 10 used Submit Answer Save for Later