Testbank Problem 148 (Part Level Submission) The following information was taken from the books and records of Wildhorse, Inc.: $488,400 290,000 2,200,000 1. Net Income 2. Capital structure: a. Convertible 6% bonds. Each of the 290, $1,000 bonds is convertible into 50 shares of common stock at the present date and for the next 10 years. b. $10 par common stock, 220,000 shares issued and outstanding during the entire year. C. Stock warrants outstanding to buy 15,520 shares of common stock at $20 per share. 3. Other information: a. Bonds converted during the year b. Income tax rate C. Convertible debt was outstanding the entire year d. Average market price per share of common stock during the year e. Warrants were outstanding the entire year f. Warrants exercised during the year None 30% $32 None (a1) Your answer is correct. Compute basic earnings per share. (Round answer to 2 decimal places, e.g. 52.75.) Basic earnings per share 2.22 $ Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION LINK TO TEXT Attempts: 2 of 3 used (a2) Your answer is partially correct. Try again. Compute diluted earnings per share. (Round answers to 2 decimal places, e.g. 52.75.) Security EPS Common Stock 2.22 Warrants 0 Conversion Bonds 0 Click if you would like to Show Work for this question: Open Show Work Attempts: 2 of 3 used