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Bonita Industries had 197000 shares of common stock, 19600 shares of convertible preferred stock, and $1600000 of 4 convertible bonds outstanding during 2021. The preferred

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Bonita Industries had 197000 shares of common stock, 19600 shares of convertible preferred stock, and $1600000 of 4 convertible bonds outstanding during 2021. The preferred stock is convertible into 39400 shares of common stock. During 2021, Bonita paid dividends of $0.80 per share on the common stock and 54 pershare on the preferred stock. Each $1.000 bond is convertible into 30 shares of common stock. The net income for 2021 was $595000 and the income tax rate was 40% Diluted earnings per share for 2021 is trounded to the nearest perny) $2.10. $2.52 O $2.23 $2.06

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