On January 2, 2017, Helisinki Ltd.issued at par $300,000, 9% convertible bonds.Each $1,000 bond is convertible into 30 shares.No bonds were converted during 2017.There were 50,000 common shares outstanding during 2017 (no preferred shares issued).Helsinki's 2017 net income was $160,000 and their income tax rate was 30%.Helsinki's diluted earnings per share for 2017 would be

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The Answer of On January 2, 2017, Helisinki Ltd.issued at par $300,000, 9% convertible bonds.Each $1,000 bond is convertible into 30 shares.No bonds were converted during 2017.There were 50,000 common shares outstanding during 2017 (no preferred shares issued).Helsinki's 2017 net income was $160,000 and their income tax rate was 30%.Helsinki's diluted earnings per share for 2017 would be