Reference no: EM132872345

Question - Oriole Company had 206000 shares of common stock, 20600 shares of convertible preferred stock, and $1493000 of 5% convertible bonds outstanding during 2021. The preferred stock is convertible into 39700 shares of common stock. During 2021, Oriole paid dividends of $1.00 per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2021 was $609000 and the income tax rate was 30%.

Required - Determine the Basic earnings per share for 2021?