Question
Coronado Industries had 207000 shares of common stock, 19500 shares of convertible preferred stock, and $1502000 of 4% convertible bonds outstanding during 2021. The preferred
Coronado Industries had 207000 shares of common stock, 19500 shares of convertible preferred stock, and $1502000 of 4% convertible bonds outstanding during 2021. The preferred stock is convertible into 39700 shares of common stock. During 2021, Coronado paid dividends of $0.90 per share on the common stock and $3 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $606000 and the income tax rate was 30%. Basic earnings per share for 2021 is (rounded to the nearest penny)
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