b) An analyst gathered the following information about a company: 2,500,000 shares outstanding at the beginning of the year 2,000,000 weighted average number of shares outstanding for the year $40 average stock price for the period $50 ending stock price 1,000,000 warrants outstanding exercisable at $30 per share 100,000 7%, $1000 par value convertible bonds (conversion ratio 15 to 1) issued 2 years ago $5,000,000 net after tax income for the year 30% tax rate