FULL SCREEN CALCULATO8 PRINTER VERSION BACK NEXT Question 10 On January 1, 2017, Metlock Company issued 10-year, $2,010,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 15 shares of Metlock common stock. Metlock's net income in 2017 was $302,000, and its tax rate was 40 % . The company had 95,000 shares of common stock outstanding throughout 2017. None of the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share (b) Compute diluted earnings per share for 2017, assuming the same facts as above, except that $950,000 of 6 % convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Metiock common stock. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share Question Attempts: Unlimited