View Policies Current Attempt in Progress Waterway Industries had 203000 shares of common stock, 20500 shares of convertible preferred stock, and $1495000 of 6% convertible bonds outstanding during 2021. The preferred stock is convertible into 40900 shares of common stock. During 2021. Waterway paid dividends of $0.90 per share on the common stock and $2 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $597000 and the income tax rate was 30%. Basic earnings per share for 2021 is (rounded to the nearest penny) O $2.15. O $2.74. O $2.45. O $2.36. Save for Later Attempts: 0 of 1 used Submit Answer