(For 11 and 12) The Heath Corporation reported net income for 2015 of $177,500. Heath began the year with 100,000 shares of $5 par value common shares outstanding and 2,500 shares of $100 par value preferre share. Heat 7% d shares outstanding. On October 1, Heath sold 10,000 shares of common stock for $6 per h paid dividends of $0.20 per share to the common shareholders in December. 11. What is the basic earnings per share for 2015? (Round to cents.) 12. If each share of preferred stock is convertible into 8 shares of common stock, what is the diluted earnings per share for 2015? (Round to cents.)