Amy Dyken controller at Sheridan Pharmaceutical Industries, a public company is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Sheridan financial statements Below is selected financial information for the fiscal year ended June 30, 2020. Sheridan Pharmaceutical Industries Selected Balance Sheet Information June 30, 2020 Long-term diebt Notes payable, 10% 9X convertible bonds payable 10% bonds payable Total long-term debt $1.000.000 5,050,000 5.920,000 $11.970,000 Shareholders' equity Preferred stock, 5% cumulative, $50 par value, 109,000 shares authorized, 27.250 shares issued and outstanding Common stock, $1 par, 9,800,000 shares authorized 980,000 shares issued and outstanding Additional paid-in capital Retained earnings Total shareholders' egity $1,362,500 980,000 3,930,000 6050.000 $12.322.500 The following transactions have also occurred at Sheridan 1. Options were granted on July 1, 2019. to purchase 220.000 shares at 514 per share. Although no options were exercised during fiscal year 2020, the average price per common share during fiscal year 2020 was $20 per share. 2. Each bond was issued at face value. The convertible bonds will convertinto common stock at 50 shares per $1.000 bond. The bonds are cerisable after 5 years and were issued in fiscal year 2019 3. The preferred stock was issued in 2019. 4. There are no preferred dividends in arrears, however, preferred dividends were not declared in fiscal year 2020. 5. The 980,000 shares of common stock were outstanding for the entire 2020 fscal year 6 Net Income for fiscal year 2020 was $1.480.000 and the average income tax rate is 20% For the fiscal year ended June 30, 2020, calculate the following for Sheridan Pharmaceutical Industries. Round answers to 2 decimal places. $245) (a) Basic earnings per shure. Basic earning per shares (h) Diluted earnings per share. Diluted earnings per shares