Hutchins company had 200,000 shares of common stock, 50,000 shares of convertible preferred stock, and $2,000,000 of 10% convertible bonds outstanding during the current year. the preferred stock was convertible into 40,000 shares of common stock. during the current year, hutchins paid dividends of $1.00 per share on the common stock and $2.00 per share on the preferred stock. each $1,000 bond was convertible into 50 shares of common stock. the net income for the year was $1,000,000 and the income tax rate was 30%.basic earnings per share for the current year was (rounded to the nearest penny): a) 4.55b) 4.50c) 5.00d) 4.30