Oriole company had 196000 shares of common stock, 19200 shares of convertible preferred stock, and $605000 of 11% convertible bonds outstanding during 2018. the preferred stock is convertible into 4 shares of common stock. during 2018, oriole paid dividends of $1 per share on the common stock and $2 per share on the preferred stock. each $1,000 bond is convertible into 45 shares of common stock. the net income for 2018 was $359000 and the income tax rate was 35%. diluted earnings per share for 2018 is (rounded to the nearest penny)

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone