Question: Current Attempt in Progress X Your answer is incorrect. On January 1, 2020, Windsor Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each

Current Attempt in Progress X Your answer is incorrect. On January

Current Attempt in Progress X Your answer is incorrect. On January 1, 2020, Windsor Company issued 10-year, $1,860,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Windsor common stock. Windsor's net income in 2020 was $412,800, and its tax rate was 20%. The company had 96,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, eg. $2.55.) Diluted earnings per share $ 4.5 (b) Compute diluted earnings per share for 2020, assuming the same facts as above, except that $960,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Windsor common stock. (Round answer to 2 decimal places, eg. $2.55.) Diluted earnings per share $

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