Crane Corporation has 440,000 shares of common stock outstanding throughout 2021. In addition, the corporation has 5,400, 20-year, 8% bonds issued at par in 2019. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/22. During the year 2021, the corporation earned $756,800 after deducting all expenses. The tax rate was 30%.

Earning per share