-IV- On January 1, 2021, Phil Company had 200,000 shares of common stock outstanding and purchased 30,000 shares of common stock as treasury stock for $50 per share. It sold 60,000 shares of 8%, $50 par, cumulative preferred stock outstanding. On April 1, Phil Those bonds are convertible into common stock, in a ratio of 3:1. None of them had been $7,200,000, 6 million dollars of 6% bonds were issued at face value on January 1, 2021. 10,000 treasury shares on October 1, at $55 per share. converted by December 31. The company's tax rate is 30%. Required: Net income for 2021 was Showing your computations, present in good order Phil's earnings per share for 2021.