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  3. 28) daytona corp. earned net income of $400,000 in

28) Daytona Corp. earned net income of $400,000 in 2021 and had 300,000 shares of...

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28) Daytona Corp. earned net income of $400,000 in 2021 and had 300,000 shares of common stock outstandingthroughout theyear. Also outstanding all year was $500,000 of 4% bonds, which are convertible into 40,000 shares of common. Daytona'stax rate is 30%. Compute Daytona's 2021 diluted earnings per share. 29) Dallas Co. had net in come for 2021 of $600,000. The average number of shares outstanding for the period was 150,000 shares. The average number of shares under an outstanding option, which had an option price of $20 per share, is 6,000 shares. The average market price of the common stock during the year was $30. What should Dallas Co. report for diluted earnings per share for the year ended 2021? 30) Miami Co. had 400,000 shares of common stock, 40,000 shares of convertible preferred stock, and $4,000,000 of 5% convertible bonds outstanding during 2021. The preferred stock is convertible into 80,000 shares of common stock. During 2021, Miami paid dividends of $.80 per share on the common stock and $5 per share on the preferred stock. Each $1,000 bond is convertible into 40 shares of common stock. The net income for 2021 was $500,000 and the income tax rate was 30%. Diluted earnings per share for 2021 is

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