Exercise 17-17 Sheridan Corporation earned $475,000 during a period when it had an average of 105,000 common shares outstanding. The common shares sold at an average market price of $25 per share during the period. Also outstanding were 17,100 warrants that could each be exercised to purchase one common share for $10. Are the warrants dilutive? Calculate basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ Calculate diluted earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share $