Question 33 4 pts Raimer Corp. has 400,000 shares of $20 par value common stock outstanding throughout 20x2. In addition, the corporation has 500, $1,000, 5% bonds outstanding that were issued at par in 20x0. Each $1,000 bond is convertible into thirty (30) shares of common stock. During 20x2, the corporation earned $600,000 of net income. The tax rate was 30%. Assume that the bonds were issued at a premium, instead of being issued at par. Assume that 100 of the bonds were converted to common stock in 20x3. On the conversion date, the bonds had a book value of $103,000. Record the conversion. SHOW YOUR WORK