Amy Chang of the controller's office of Thompson Corporation was given the assignment determining the basic and diluted earnings per share values for the year ending December 31, 2015. Any has complied the information listed below. The after-tax net income for the year ended December 31, 2015. was $15,000,000. The income is 40%. The company is authorized to issue 10,000,000 shares of $10 par value common stock. As of December 31, 2014, 2,000,000 shares had been issued and were outstanding. A total of 1,000,000 shares of an authorized 1.200,000 shares of convertible preferred stock had been issued on August 1, 2014. The stock was issued at its par value of $25, and it has a staled dividend of $3 per share per year. The stock is convertible into common stock at the rate of one share of convertible preferred for one share of common. The rate of conversion is to be automatically adjusted for stock splits and stock dividends. Dividends are paid semiannually on July 1 and January 1 to all stockholders of record on Jun2 29 and December 29 respectively The company issued a 10% convertible debenture bonds sold at 100 (total $100,000) on January 1, 2015 and convertible into 30,000 common shares. The interest is paid annually on December 31. The rate of conversion automatically adjusted for stock splits and stock dividends. The common stock options were granted and exercisable in 2014 to purchase 60,000 shares of common stock at the option price of $25 per share. The average market price of common stock is $30 per share in 2015. Assume the market price, option price and granted number of shares are to be automatically adjusted for stock dividend and split. The following specific activities took place during 2015. February 1: A 5% common stock was issued. The dividend had been declared on December 1, 2014, to all stockholders of record on December 29. 2014. April 1: A 2-for-l split of the common stock became effective on this date. August 1: A total of 300,000 shares of common stock were issued to acquire a building. October 1: 50% of the convertible debenture bonds were converted to common shares. November 1: A total of 24,000 shares of common stock were purchased on the open market at $9 per share. These shares were to be held as treasury stock and were still in the treasury as of December 31, 2015. Preferred stock cash dividends - Cash dividends to preferred stockholders were declared and paid as scheduled. Compute the basic earnings per share for the year ended December 31, 2015. Compute the diluted earnings per share for the year ended December 31, 2015