On 1/1/17, Genesis Corporation had outstanding 150,000 shares of common stock. On 3/1/17 Genesis purchased 30,000 shares of treasury stock, which were reissued on 7/1/17. During 20 income was $850,000, and dividends of $73,000 were paid on its effective income tax rate is 30% The following potentially dilutive items were outs of 2017: 17, net nonconvertible preferred stock. The tanding at the end 0% convertible bonds ($2,000,000) issued at 100 on 1/1/15. Each $1,000 bond is convertible into 10 shares of common stock. No bonds have been converted as of 12/31/17 1. 1 Options to purchase 30,000 shares at $50 per share were issued on 4/1/17. The average market price of the stock during the year was $60, and the 12/31/17 market price was $90. The average price during the last nine months of the year was $75. 2