In 2016, Sheridan Enterprises issued, at par,60$1,000,8% bonds, each convertible into100shares of common stock. Sheridan had revenues of $16,000and expenses other than interest and taxes of $6,700for 2017. (Assume that the tax rate is 40%.) Throughout 2017,2,400shares of common stock were outstanding; none of the bonds was converted or redeemed.

(a) Compute diluted earnings per share for 2017.(Round answer to 2 decimal places, e.g. $2.55

Earnings per share

(b) Assume the same facts as those assumed for part (a), except that the60bonds were issued on September 1, 2017 (rather than in 2016), and none have been converted or redeemed. Compute diluted earnings per share for 2017.(Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share

(c) Assume the same facts as assumed for part (a), except that20of the60bonds were actually converted on July 1, 2017. Compute diluted earnings per share for 2017.(Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share

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