Question: I need help in computing the diluted earnings per share for 2021. I computed $1.54 but that is incorrect. Please and thank you for the

I need help in computing the diluted earnings per share for 2021. I computed $1.54 but that is incorrect. Please and thank you for the help. please show your work, so that I can see what I did wrong!

I need help in computing the diluted earnings per share for

The information below pertains to sheffield Company for 2021 Net income for the year $1,180,000 7 7. convertible bonds issued at par (\$1;000 per bond); each bond is convertible into 30 shares of commonstock (7) 7.9 convertible cumulative preferred stock, $100 par value: each share is convertible into 3 shares of common stock Common stock \$10 par value Tax rate for 2021 Average market price of cominon stock $25 per share Therewere no changes during 2021 in the nimber of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock The company also has common scock options (granted in a prior year) to purchase 73,600 shares of commonstock at $20 per ishare. (a) Compute basic earnings per sharefor 2021. (Roundanswer to 2 decimal places, eg. $2.55.) Basic elannings pershare $5 (b) Computedinuted elinnings per share for 2021. (Round answer to 2 decimal places, eg. $2.55.)

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