During all of 2018, Josh’s Sportswear Inc.’s (JSI) capital structure included the following: 

■ 20,000 ordinary shares outstanding 

■ 3,000, $100, 5% cumulative preferred shares 

■ $500,000, 6% bonds maturing on January 1, 2023. The bonds were issued at par. Each $1,000 bond is convertible into 12 ordinary shares.

JSI’s net income for the year ended December 31, 2018, was $190,000, comprised of earnings from continuing operations and discontinued operations of $172,000 and $18,000, respectively. Dividends were not declared in 2017. However, $30,000 in dividends were declared on the preferred shares in 2018. JSI’s income tax rate was 27%.

Required:

Compute basic earnings per share and diluted earnings per share arising from each of continuing operations, discontinued operations, and operations.