Cumulative preferred stock outstanding: 5.000 shares of 5%,$100 par value NetIncomeincometaxrate:$225,00020% The following potentially dilutive securities were outstanding during the entire year: 8% Convertible bonds outstanding: $300,000. The bonds are convertible into 30,000 shares of common stock. Stock options outstanding: 10,000 options for the purchase of 10,000 shares of Creek Corp. common stock at $26/ share. Average market price of Creek common stock: $30 INSTRUCTIONS a. Compute the weighted average shares outstanding. b. Compute basic and diluted earnings per share to be reported by Creek Corp. Show backup calculations