On January 1, 2021, Heritage Village lnc. issued $50,000 of 8% bonds at par, with each $1,000 bond being convertible into 100 common shares. The company had revenues of $86,358 and expenses of $38,575 for 2022, not including interest and taxes (assume a tax rate of 22\%). Throughout 2022,1,800 common shares were outstanding, and none of the bonds were converted or redeemed. (For simplicity, assume that the convertible bonds' Equity element is not recorded.)