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On January $1,2024,$ Bonita issued $10-$year, $$180,000$ face value, $6\%$ bonds at par. Each $$1,000$ bond is convertible into $30$ shares of

Bonita $$2$ par value common stock. The company has had $10,000$ shares of common stock $($and no preferred stock$)$ outstanding

throughout its life. None of the bonds have been converted as of the end of $2025.($Ignore all tax effects.$)$

$($a$)$

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Prepare the journal entry Bonita would have made on January $1,2024,$ to record the issuance of the bonds. $($List debit entry before

credit entry. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account titles are

automatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1,$

$2024$

Cash

$180000$

Bonds Payable

Attempts: $1$ of $1$ used

$($b$)$

Bonita's net income in $2025$ was $$33,000$ and was $$31,000$ in $2024.$ Compute basic and diluted earnings per share for

$2025$ and $2024.($Round answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Basic earning per share

Diluted earning per share

$($c$)$

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