birmey corp had $900,000 net income in 2004. on january 1, 2004 there were 220,000 shares of common stock outstanding of common stock. On april 1, 20,000 shares were issued and on september 1 Birmey bought 30,0000 shares of trasury stock. There are 30,000 options to buy common stock at $40 a share outstanding. The market price sof the stock averaged $50 during 2004. the tax rate is 40%

During 2004 there were 20,000 shares of convertible preferred stock outstanding. The preffered is $100 par, pays $7 a year dividend, and is convertible into three shares of common stock

Birmey issued $2,000,000 of 8% convertible bonds at face value during 2003. Each $1,000 bond is convertible into 20 shares of common stock

complete diluted earnings per share for 2004. complete the schedule and show all computations
security net adjust adjusted shares adjustment adjusted EPS
income ment net income shares

common stock

options

bonds

preferred