Please complete part A + C

At the beginning of 2025, Cheyenne Industries had 22,000 shares of common stock issued and outstanding and 500 of $1,000, 6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025, Cheyenne had revenues of $157,000 and expenses other than interest and taxes of $107,000. Assume that the tax rate is 20%. None of the bonds was converted or redeemed.

At the beginning of 2025 , Cheyenne Industries had 22,000 shares of common stock issued and outstanding and 500 of $1,000,6% bonds (issued at par), each convertible into 10 shares of common stock. During 2025, Cheyenne had reventres of $157,000 and expenses other than interest and taxes of $107,000. Assume that the tax rate is 20%. None of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2025. (Round answer to 2 decimal places, es. 2.55) Earnings per share (c) Assume the same facts as assumed for part (a), except that 100 of the 500 bonds were actually converted on July 1, 2025. Compute diluted earnings per share for 2025 . (Round answer to 2 decimal places, eg. 2.55.) Earnings per share