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7. (6 points) Information from the financial statements of Rune Industries included the following at...

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Accounting

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7. (6 points) Information from the financial statements of Rune Industries included the following at December 31, 2021. Rune's net income for the year ended December 31, 2021, is $880 million. The income tax rate is 25%. Runes paid dividends of $2 per share on its preferred stock during 2021. Compute Basic and Diluted earnings per share for the year ended December 31. 2021. Common Shares outstanding throughout 100 million the year Convertible Preferred Shares 60 milllion (convertible into 36 million shares of Common) Convertible 8% bonds (Convertible into $1,600 million 14.5 million shares of Common) Basic $ /share Diluted $ /share

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