Peeoru . The following information was taken from the books and S 660,000 1. Net income 2. Capital structure: a. Convertible 4% bonds. Each of the $1,000 bonds is convertible into 20 shares of common stock at the present date and for the next 10 years. 2,000,000 b, $100 par preferred stock, 4% cumulative, non- convertible, 25,000 shares issued and outstanding during the entire year. 2,500,000 320,000 shares issued and c. No-par common stock, outstanding during the entire year. 3,000,000 d. Incentive stock options outstanding to buy 100,000 shares of common stock at $20 per share 3. Other information: None 40% a. Bonds converted during the year b. Income tax rate c. Convertible debt was outstanding the entire year d. Average market price per share of common stock $25 during the year e. Incentive stock options were outstanding the entire year f. Incentive stock options exercised during the year None INSTRUCTIONS: Compute basic and diluted earnings per share rounded to the neare 30 POINTS) Show all computations BASIC EARNINGS PER SHARE DILUTED EARNINGS PER SHARE 302 Test 2-Fall 2018- Spurr CTRCLEANSHERS IN THIS TEST BOOKLET ALS