Business, 29.01.2021 16:30 bray40

Jostens Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% bonds outstanding during 2017. The preferred stock is convertible into 20,000 shares of common stock. During 2017, Jostens paid endives of $1.20 per share on its common stock and $3.00 per share on its preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for the year ended December 31,2017 was $80,000. Assume the income tax rate was 30%. Diluted earnings per share of 2017 (rounded to the nearest penny) are: Select one: a. $3.64
b. $3.72
c. $3.36
d. $3.48
e. $3.22

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Jostens Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1...

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