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Ron Corporation had 8 million shares of common stock outstanding during the current calendar year. On July 1, Ron issued ten thousand $1,000 face value, convertible bonds. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semi annuallly for 20 years. They have a stated rate of 12%. Jet had income before tax of $24 million and a net income of $18 million. Ron would report the following EPS data (rounded):

a.	Basic EPS $2.25	Diluted EPS $2.24
b.	$2.25	n/a antidilutive
c.	$2.25	$2.16
d.	$2.25	$2.12

A. Option A

B. Option B

C. Option C

D. Option D

During 2021, Nevin Corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Nevin declared and paid cash dividends of $300,000 and $150,000 to common and preferred shareholders, respectively, during 2021.

On January 1, 2020, Nevin issued $2,000,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares.

Nevin's net income for the year ended December 31, 2021, was $6 million. The income tax rate is 20%.

What is Nevin's basic earnings per share for 2021, rounded to the nearest cent?

A. $5.29.

B. $6.50.

C. $5.57.

D. None of these answer choices are correct.

During the current year, North Corporation had 2 million shares of common stock outstanding. Two thousand 10% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning of the year. East reported net income of $2 million for the year. Each bond is convertible into 10 shares of common stock. The tax rate is 25%. What is diluted EPS (rounded)?

A. $1.00.

B. $0.95.

C. $0.90.

D. $1.10.

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