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Question 2 --/8 View Policies Current Attempt in Progress Blossom Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021: 720,000 common shares 330,000 $3 cumulative, no-par value preferred shares Options to purchase 90,000 common shares at $13 per share. The average market price of Blossom's common shares during the year was $20 per share. None of the options were exercised or expired during fiscal 2021 9% bond with a face value of $1,800,000, convertible to 47,000 common shares. Blossom's net income for fiscal 2021 was $8,118,000, and its tax rate was 15%. Preferred dividends had been paid in all previous fiscal years. Calculate the income effect of the dividends on preferred shares. Dividends on preferred shares e Textbook and Media Calculate Blossom's basic earnings per share for the year. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share e Textbook and Media Calculate the after-tax interest paid on the 9% bonds. After-tax interest on bonds converted e Textbook and Media Determine an incremental per share effect for 9% bonds. (Round earnings per share to 3 decimal places, eg. 15.257.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 9% Bonds eTextbook and Media Calculate the proceeds from assumed exercise of options. Proceeds from exercise of options Calculate the incremental shares oustanding upon the exercise of options. The incremental shares oustanding upon the exercise of options eTextbook and Media Rank the potentially dilutive securities from most dilutive to least dilutive. 9% bonds Options Rank 1 Rank 2 Anti-dilutive e Textbook and Media Calculate Blossom's diluted earnings per share for the year. (Round calculations of EPS to 3 decimal places, e.g. $3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Numerator Denominator EPS Basic EPS Sub Total Sub Total Diluted EPS e Textbook and Media