Problem 1: Earnings Per Share Jackson Company has the following information relating to their earnings per share: Net Income $10,000,000 Shares of Common Stock on January 1 4,000,000 Shares Issued on April 1 2,000,000 Shares Purchased on October 1 1,000,000 Preferred Stock $100 par value, 5% Shares of Preferred Stock 100.000 Face Value of Convertible Bonds 10,000,000 Interest Rate on Bonds 6% Preferred Stock Convertible to Common One share of preferred one share of Stock common Bonds Convertible to Common Stock Total of 150,000 shares Required Answer the following questions Questions Calculate the net income attributable to common shareholders for basic earnings per share. Calculate the number of shares to be used to calculate basic earnings per share. Calculate basic earnings per share. Calculate the net income attributable to common shareholders for fully diluted earnings per share. Calculate the number of shares to be used to calculate fully diluted earnings per share. Calculate fully diluted earnings per share. Answers