Amy Dyken, controller at Pharoah Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and

diluted earnings per share and the related disclosure for Pharoah's financial statements. Selected financial information for the fiscal

year ended June $30,2022,$ is shown below.

The following transactions have also occurred at Pharoah.

Options were granted on July $1,2021,$ to purchase $180,000$ shares at $15$ per share. Although no options were exercised

during fiscal year $2022,$ the average price per ordinary share during fiscal year $2022$ was $20$ per share.

Each bond was issued at face value. The convertible bonds will convert into ordinary shares at $50$ shares per $1,000$ bond. The

conversion is exercisable after $5$ years, and the bonds were issued in $2020.$ The interest on the liability component of the

convertible bonds payable for the fiscal year ending June $30,2022,$ was $453,600.$

The preference shares were issued in $2020.$

There are no preference dividends in arrears; however, preference dividends were not declared in fiscal year $2022.$

The $1,000,000$ ordinary shares were outstanding for the entire $2022$ fiscal year.

Net income for fiscal year $2022$ was $1,490,000,$ and the average income tax rate is $40\%.$

For the fiscal year ended June $30,2022,$ calculate the following for Pharoah Pharmaceutical Industries. $($Round answers to $2$ decimal

places, e$.$g$.2\mathrm{.}45.)$

$($a$)$ Basic earnings per share.

Basic earnings per share $$

$($b$)$ Diluted earnings per share.

Diluted earnings per share $,$