LIL 10. MUMEWUIK 2019 Fall-2020 Spring Term WP Home e Textbook Send to Gradebook Modules OOO Grades --/1 Wiley Accounting Weekly Updates Question 1 View Policies Current Attempt in Progress Student Practice and Solutions Manual On January 1, 2020, Coronado Company issued 10-year, $2,010,000 face value, 6% bonds, at par, Each $1,000 bond is convertible into 15 shares of Coronado common stock. Coronado's net income in 2020 was $518,400, and its tax rate was 20%. The company had 108,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. Wiley CPAexcel Con- tinued Access Discussions (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Conferences Diluted earnings per share $ Collaborations WileyPLUS Support (b) Compute diluted earnings per share for 2020, assuming the same facts as above, except that $1,080,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Coronado common stock, (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Send to Gradebook Previous Next