Homework: Week Four Note the following partial income statement for Connor Corporation for the current year. (Click the icon to view the partial income statement.) Question 11, P20-5 (similar to) Part 1 of 6 The company is subject to a 30% tax rate. We present share information for the current year in the following table. (Click the icon to view the share information.) HW Score: 4.76%, 1 of 21 points Points: 0 of 1 Save Connor had 420,000 options outstanding all year at an exercise price of $60 per share. The average market price per share of the company's shares for the current year is $70 per share. The company issued 2%, $6,600,000 convertible debt on April 1 of the current year at par value. Each $1,000 par value bond converts into 12 shares of the company's common stock. All debt converted into common stock on August 1. Assume that the bonds are antidilutive. Each option is exercisable for one share of common stock. Read the requirement Data table Requirement a. Compute basic and diluted earnings per share for income from continuing operations and net income. Show all computations. First compute the weighted-average number of common shares outstanding. (Do not round intermediary calculations. Enter a decrease in shares outstandin Partial Income Statement Date Event 1/1 Balance 4/1 New Issue 8/1 Bond conversion 10/1 Treasury Stock Purchase 12/31 Balance Number of Shares Outstanding Weight by Number of Months Shares Are Outstanding Weighted-Average Shares Outstanding Help me solve this Etext pages Requirements For the Current Year Income from Continuing Operations Income from Discontinued Operations, net of tax $ 3,690,000 315,000 4,005,000 Net Income More info Event and Date Number of Shares 1/1 Beginning balance 1,860,000 204,000 (88,800) a. Compute basic and diluted earnings per share for income from continuing operations and net income. Show all computations. b. Prepare all required disclosures beginning with income from continuing operations. 4/1 New share issue 10/1 Treasury stock acquisition Drint Dona 12:50 PM