Assume that the following data relative to Gaga Company for 2019 is available: Net Income Common shares issued and outstanding Tax rate $2,400,000 2,000,000 27% 8% Cumulative Convertible, $100 par value Preferred Shares Convertible into 200,000 common shares $1,000,000 12% Convertible Bonds ($100 bond each convertible into 15 common shares) $95,000 Call Options Exercisable at the option price of $25 per share. Average market price in 2019, $30 60,000 shares Warrants Exercisable at option price of $32/ share Average market price in 2019, $30 22,000 shares Instructions (a) Calculate the basic earnings per share for 2019. (Round to two decimal places) (b) Calculate the diluted earnings per share for 2019. (Round to two decimal places)