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On January 2, 2021, Concord Corporation issued at par $2060000 of 5% convertible bonds. Each...

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Accounting

On January 2, 2021, Concord Corporation issued at par $2060000 of 5% convertible bonds. Each $1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2021. Concord had 193000 shares of common stock outstanding during 2021. Concords 2021 net income was $909000 and the income tax rate was 25%. Concords diluted earnings per share for 2021 would be (rounded to the nearest penny): $5.06. $4.71. $4.76. $4.62.

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