Accounting S-TEsT 13. The following information relates to the capital structure of Mctcalf Corporation December 31 1991 1992 Outstanding shares ng Common stock 180,000 180,000 Preferred stock, convertible into 60,000 shares of common 60,000 60,000 10% convertible bonds, convertible into 40,000 shares of common 2,000,000 $2,000,000 During 1992 Metcalf paid $90,00 dividends on the preferred stock Metcalr's net income for 2 was $196000 and the income tax rate was 40%. For the year ended December 31, 1992 the fully diluted earnings per share is a. $7.29. b. $7.43. c $8.17. d $8.29 e $9.82 14. In 2014, Eklund, Inc. issued for $103 per share, 70,000 shares of $100 par value convertble preferred stock. One share of preferred stock can be converted into three shares of Eklund's $25 par value common stock at the option of the preferred stockholder. In August 2015, all of the preferred stock was converted into common stock. The market value or he common stock at he date of he (inition was $30 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock? a. $1,190.000 b. $ 910,000 c $1,750,000 d. $1.960.000. 10