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During the current year, Comma Co. had outstanding: 25,000 shares of common stock, 8,000 shares...

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Accounting

During the current year, Comma Co. had outstanding: 25,000 shares of common stock, 8,000 shares of $20 par, 10% cumulative preferred stock, and 3,000 bonds that are $1,000 par and 9% convertible. The bonds were originally issued at par, and each bond was convertible into 30 shares of common stock. During the year, net income was $200,000, no dividends were declared, and the tax rate was 30%. What amount was Comma's basic earnings per share for the current year? Select one: a. $7.55 b. $7.36 c. $8.00 d. $3.38

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