Enron Company provided the following information for the current year. Net income is $8,112,300, and the company is subject to a 30% tax rate. For the entire year, there are 1,020,100 shares of outstanding common stock with an average market price of $30 per share. (Click the icon to view the information.) Read the requirements. Requirement a. Based on the information provided, compute basic and diluted earnings per share (EPS) for the current year. Include all computations related to the application of antidilution sequencing. Begin by calculating the incremental income per share on each of the potentially dilutive securities and ranking their order of entry into the EPS computation. (Complete all answer boxes. Enter a "0" for any zero balances. Round the incremental income per share amounts to the nearest cent, $X.XX.) Increase Increase in the Number of Common Shares Incremental Income per Share Rank Order of Entry into the EPS Computation Potentially Dilutive Security in Income Employee options Convertible preferred stock Convertible debt The company had three potentially dilutive securities outstanding for the full year. There are qualified employee options to acquire 99,900 shares of common stock at an exercise price of $22 per share. The stockholders' equity section of the balance sheet includes 85,900 shares of convertible preferred stock. The board of directors declared preferred dividends of $7.10 per share for the year. Each preferred share is convertible into 1 share of common stock. Finally, the company issued $6,520,000 face value, 7% convertible bonds at par value on January 1. Each $1,000 par value bond is convertible into 86 shares of common stock. Requirements a. Based on the information provided, compute basic and diluted earnings per share for the current year. Include all computations related to the application of antidilution sequencing. b. Prepare the required income statement disclosures beginning with net income.