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On January 2, 2021, Swifty Corporation issued at par $304000 of 7% convertible bonds. Each $1,000 bond is convertible into 60 shares. No bonds were
On January 2, 2021, Swifty Corporation issued at par $304000 of 7% convertible bonds. Each $1,000 bond is convertible into 60 shares. No bonds were converted during 2021. Swifty had 105000 shares of common stock outstanding during 2021. Swifty's 2021 net income was $154000 and the income tax rate was 30%. Swifty's diluted earnings per share for 2021 would be (rounded to the nearest penny)
$1.47.
$1.42.
$1.26.
$1.37.
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