Calculate basic earnings per share and diluted earnings per share for the following information C company had not income for fiscal year ending Dec 31,2019 of 3.4 million. There were 2 million common shares outstanding throughout 2019. The average market price of the common shares for the fiscal year was $75. C company tax rate is 10%. C company had following potential common share outstanding during 2019 Options to buy 100000 common share at $50 per share 80000 convertible preferred share entitled to a cumulative dividend of 8 per hare . Each preferred share is convertible into two common shares. 8% convertible debentures with a principal amount of $100 issue At par. Each $100 debenture is convertible into 20 common shares