Part 1: Diluted EPS and Convertible Bonds The company had 50,000 shares of common stock outstanding throughout the year. In addition, as of January 1, the company had issued 100 convertible bonds $1,000 face value, 10% The company has no other potentially dilutive securities. Net income for the year was $100,000. The income tax rate is 30%. Compute diluted earnings per share, assuming that(a) each bond was convertible into 50 shares of common stock and (b) each bond was convertible into 20 shares of common stock Part 2:Convertible Bonds Issued During the Year Refer to Part 1. Assume that the convertible bonds were issued on October 1. Compute diluted earnings per share, assuming that () each bond was convertible into 100 shares of common stock and (2) each bond was convertible into 15 shares of common stock