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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

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%.

Compute the earnings per share amount(s) for 20x2. SHOW YOUR WORK.

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