On January 1, 2020, Coronado Company issued 10-year, $1,870,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Coronado common stock. Coronado's net income in 2020 was $462,800, and its tax rate was 20%. The company had 104,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ 4.18 (b) Compute diluted earnings per share for 2020, assuming the same facts as above, except that $1,040,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Coronado common stock. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ 3.00

Un January 1,2020 , Coronado Company issued 10 -year, $1,870,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Coronado common stock. Coronado's net income in 2020 was $462,800, and its tax rate was 20%. The company had 104,000 shares of common stock outstanding throughout 2020 . None of the bonds were comverted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal ploces, es. \$2.55.) Diluted earnings par share (b) Compute diluted earnings per share for 2020 , assuming the same facts as above, except that $1,040,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares or Coronado common stock (Round answer to 2 decimal places, es. \$2.55.) Diluted earnings per share $