During 2021, Johnon Company had 100,000 shares of $5 par value common stock and 5,000 shares of 5%, $100 par value convertible preferred stock outstanding. Each share of preferred stock may be converted into three shares of common stock. Johnson Companys 2021 net income was $1,800,000.

a. compute the basic earnings per share fore 2021

b. compute diluted earnings per share for 2021.