Accounting, Analysis, and Principles a-c (Part Level Submission) On January 1, 2019, Sweet issued 10-year, $300,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Sweet $2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2020. (Ignore all tax effects.) (a) Your answer is correct. Prepare the journal entry Sweet would have made on January 1, 2019, to record the issuance of the bonds. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31, 2019 TCash 300,000 Bonds Payable 300,000 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT LINK TO TEXT (b) Your answer is correct. Sweet's net income in 2020 was $25,000 and was $23,000 in 2019. Compute basic and diluted earnings per share for Sweet for 2020 and 2019. (Round answers to 2 decimal places, e.g. 52.75.) 2020 2019 Basic earning per share 2.5 2.3 $ $ Diluted earning per share 2.26 2.16 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 3 used (c) Assume that 75% of the holders of Sweet's convertible bonds convert their bonds to stock on June 30, 2021, when Sweet's stock is trading at $32 per share. Sweet pays $50 per bond to induce bondholders to convert. Prepare the journal entry to record the conversion. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jun. 30, 2021 Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 3 used