EARNINGS PER SHARE 1, 2009, Rollins Inc. had 400,000 shares of common stock outstanding. The company At January also had 40,000 shares of $7 convertible preferred stock. Each share on stock. (Dividends were declared and paid.) is convertible into 4 shares of The company had outstanding options to purchase 50,000 shares of common stock The average market price per share of common stock was $15 per share. at $20 per share. Transactions during 2009: 1-Jul-09 8-Jul-os 1-Sep-09 1-Oct-09 Sold 200,000 shares Declared 100% stock dividend Sold 120,000 shares Purchased 60,000 shares to be held in Treasury lins Inc. reported income of $670,700 for 2009 Compute basic earnings (loss) per share. ompute diluted earnings (loss) per share