ACME Incorporated, a publicly-traded company, had the following items in its capital structure at December 31, 2021:

Common shares, unlimited authorized, 1,100,000 issued and outstanding

$8, Cumulative, Class A Preferred Shares. Each share is convertible into

three common shares. 100,000 authorized. 50,000 issued and outstanding

$5, Non-Cumulative, Class B Preferred Shares. Each share is convertible to

one common share. 500,000 authorized. 75,000 issued and outstanding.

1,500 convertible bonds issued January 01, 2020, maturing on

December 31, 2045. Each bond is convertible into 75 common shares

$4,500,000 mortgage payable due on June 30, 2030, principal payments

of $450,000 due each year

Stock options (issued in a prior year) to purchase 125,000 common shares

at $22 per share

Stock options (issued in a prior year) to purchase 75,000 common shares

at $15 per share

Additional information:

-There were no changes during 2021 in the number of common shares, preferred shares, or convertible bonds outstanding.

-No dividends were declared in 2021.

-Average market price of common shares $20 per share.

-The effective tax rate for 2021 is 30%.

-Interest expense was $310,000 for the bonds and $225,000 for the mortgage.

-Net income was $2,600,000

-Basic Earnings per Share was $2.00

Required (round calculations to two decimals):

1. Calculate diluted earnings per share at December 31, 2021; show calculations to support your answer.

2. Describe the presentation requirements for EPS under IFRS and show how the EPS numbers would be presented.