Use the following to answer questions 11-12: Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,500,000 of 5%convertible bonds outstanding during 2018. The preferre stock. During 2 preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2018 was $600,000 and the income tax rate was 30%. d stock is convertible into 40,000 shares of common 015, Hanson paid dividends of $.90 per share on the common stock and $3 per share on the 11. Basic earnings per share for 2018 is (rounded to the nearest penny) A) $2.20. B) $2.42. C) $2.50. D) $2.70. 12. Diluted earnings per share for 2018 is (rounded to the nearest penny A) $2.08 B) $2.12. C) $2.29. D) $2.50