Sunland Inc. had net income for the fiscal year ended June 30, 2023, of $5,800,000. There were 500,000 common shares outstanding throughout 2023. The average market price of the common shares for the entire fiscal year was $60. Sunland's tax rate was 25% for 2023. Sunland had the following potential common shares outstanding during 2023: 1. 2. 3. Options to buy 190,000 common shares at $45 per share. 190,000 convertible preferred shares entitled to sumulative dividend of $10 per share. Each preferred share is convertible into 1.5 common shares. 3% convertible bonds with a principal amount of $33,200,000, issued at par. Each $1,000 bond is convertible into 25 common shares.

Sunland inc, had net income for the fiscal year ended June 30,2023 , of $5,800,000. There were 500,000 common shares outstanding throughout 2023. The average market price of the common shmes for the entire fiscalyear was 560.5 . Suntand"s fak rate was 25% for 2023. Sunland had the following potential common shares outstanding during 2023: 1. Ontions to tuy 190,000 common shares at \$4s per share 2. 190,000 corvertible preferred shares entitied to Soumulative dividend of $10 per ahare. Each preferred share is convertible into 1.5 common shares 3. 3\%convertible bonds with a principal amount of $33,200,000, issued at par. Each $1,000 bond is convertible into 25 common tharen