Cullumber Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021: 840,000 common shares 300,000 $3 cumulative, no-par value preferred shares Options to purchase 90,000 common shares at $12 per share. The average market price of Cullumber's common shares during the year was $20 per share. None of the options were exercised or expired during fiscal 2021 9% bond with a face value of $2,200,000, convertible to 50,000 common shares. Cullumber's net income for fiscal 2021 was $7,998,000, and its tax rate was 15%. Preferred dividends had been paid in all previous fiscal years. Calculate the income effect of the dividends on preferred shares. Dividends on preferred shares Calculate Cullumber's basic earnings per share for the year. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share eTextbook and Media $ Calculate the after-tax interest paid on the 9% bonds. After-tax interest on bonds converted eTextbook and Media $ Determine an incremental per share effect for 9% bonds. (Round earnings per share to 3 decimal places, e.g. 15.257.) Potentially dilutive security 9% Bonds eTextbook and Media $ Incremental Numerator Effect Calculate the proceeds from assumed exercise of options. Proceeds from exercise of options $ Incremental Denominator Effect Calculate the incremental shares oustanding upon the exercise of options. The incremental shares oustanding upon the exercise of options $ EPS Rank the potentially dilutive securities from most dilutive to least dilutive. 9% bonds Options eTextbook and Media Calculate Cullumber's diluted earnings per share for the year. (Round calculations of EPS to 3 decimal places, e.g. $3.545 and provide final answer to 2 decimal places, e.g. 15.25.) Numerator Basic EPS $ Sub Total Denominator $ $ Sub Total $ $ Diluted EPS EPS