how it could be solved?

On January 1, 2023, Pharoah Inc issued $3 million of face value, five-year, 7% bonds at par. Each $1,000 bond is convertible into 20 common shares. Pharoah's net income in 2023 was $207,000, and its tax rate was 30%. The company had 90,000 common shares outstanding throughout 2023. None of the bonds were exercised in 2023 . For simplicity, ignore the requirement to record the bonds' debt and equity components separately. Calculate diluted earnings fxer share for 2023 , assumire the same facts as above, except that $1.80 miltion of 7% cumulative comvertible preferred shares was issued instead of the bonds. Fach $100 preferred share is convertible into 3 commonshares. (Round anner to 2 decimal ploces es. 15.25) Diluted earnings per share