During 2014,Belladonna Corp.had outstanding 125,000 shares of common stock and 7,500 shares of noncumulative,8 percent,$50 par preferred stock.Each preferred share is convertible into 8 shares of common stock.In 2014,net income was $231,500.

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The Answer of During 2014,Belladonna Corp.had outstanding 125,000 shares of common stock and 7,500 shares of noncumulative,8 percent,$50 par preferred stock.Each preferred share is convertible into 8 shares of common stock.In 2014,net income was $231,500.