Detail explanation please.

The following information is for Cullumber Limited for 2017: Net income for the year 8% convertible bonds issued at par ($1,000 per bond), with each bond convertible into 40 common shares 6% convertible, cumulative preferred shares, $100 par value, with each share convertible into 3 common shares Common shares (450,000 shares outstanding) Stock options (granted in a prior year) to purchase 70,000 common shares at $16 per share 600,000 Tax rate for 2017 Average market price of common shares $2,340,000 1,800,000 3,930,000 4,500,000 30% $21 per share There were no changes during 2017 in the number of common shares, preferred shares, or convertible bonds outstanding. For simplicity, ignore the requirement to book the convertible bonds equity portion separately Calculate basic earnings per share for 2017. (Round answer to 2 decimal places, e.g. 15.25.,) Basic EPS Calculate diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. 15.25.) Diluted EPS