Testbank Problem 148 The following information was taken from the books and records of Sheridan, Inc.: $449,400 300,000 2,100,000 1. Net Income 2. Capital structure: a. Convertible 6% bonds. Each of the 300, $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, 210,000 shares issued and outstanding during the entire year. c. Stock warrants outstanding to buy 17,120 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 Compute basic earnings per share. (Round answer to 2 decimal places, e.g. 52.75.) Basic earnings per shares Compute diluted earnings per share. (Round answers to 2 decimal places, e.g. 52.75.) EPS Security Common Stock " Warrants " Conversion Bonds " Click if you would like to Show Work for this question: Open Show Work