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Question - Sheridan Company had 201000 shares of common stock, 19100 shares of convertible preferred stock, and $597000 of 11% convertible bonds outstanding during 2021. The preferred stock is convertible into 39300 shares of common stock. During 2021, Sheridan paid dividends of $0.55 per share on the common stock and $1.70 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $368000 and the income tax rate was 30%.
Required - What the Basic earnings per share for 2021?
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