Carla Vista Corporation Ltd. has the following capital structure at the following fiscal years ended December 31:

		2020		2019
Number of common shares		660,000		510,000
Number of non-convertible, non-cumulative preferred A shares		30,000		30,000
Amount of 6% convertible bonds		$1,000,000		$1,000,000

The following additional information is available.

1.		On July 31, 2020, Carla Vista Corporation exchanged common shares for a large piece of equipment. This was the only transaction that resulted in issuance of common shares in 2020.
2.		Income before discontinued operations for 2020 was $1,500,000, and a loss from discontinued operations of $200,000 was recorded, net of applicable tax recovery.
3.		During 2020, dividends in the amount of $4 per share were paid on the preferred A shares.
4.		Each $1,000 bond can be converted into 25 common shares.
5.		There were unexercised stock options, outstanding since 2017, that allow holders to purchase 20,000 common shares at $4.00 per share.
6.		Written warrants to purchase 10,000 common shares at $7.00 per share were outstanding at the end of 2019, and no warrants were exercised in 2020.
7.		The average market value of the common shares in 2020 was $5.00.
8.		Carla Vistas tax rate is 20%.
9.		Carla Vista declared and paid a $10,000 dividend to common shareholders on June 1, 2020. Calculate Diluted earnings per share: