Julien Company had $800,000 net income in 2021. On 1 January 2021, there were 400,000 ordinary shares outstanding. On I April, 10,000 shares were issued and on I May, the company issued 5% bonus issue on ordinary shares. 30,000 treasury shares were repurchased from the open market at $35 on I September. On I March 2021, the company issued 200,000 9%, noncumulative and nonconvertible preference shares (at $1 par value). Julien issued S1,000,000 of 8% convertible bonds at face value during 2020, Each $1,000 bond is convertible into 50 ordinary shares. Top executives were granted 100,000 options to buy ordinary shares at $30 if the net income is over $300,000, The beginning and ending market price of the ordinary shares was $46 and $54 respectively during the year 2021. At the financial year-end, dividends on preference shares are declared and paid. In addition, the company declared and paid $5 cash dividends to all ordinary shareholders. Assume the tax rate for 2021 is 40% Required: (Answers should be rounded to two decimal places) a) Calculate the basic earnings per share for 2021. b) Calculate the diluted earnings per share for 2021. c) Assume the preference shares issued are convertible and each 200 preference share is convertible into 45 ordinary shares, how would it affect your answers in part (b).

Purple Cab Company had 60,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 30,000 shares of common stock. The company had outstanding fully vested incentive stock options for 6,000 shares exercisable at $11 that had not been exercised by its executives. The average market price of common stock was $13. The company reported net income in the amount of $279,915 for 2021. What is the basic earnings per share (rounded)?