In 2019, Sodic Enterprises issued, at par, 100, 51,000,6% bonds, each convertible into 50 ordinary shares. Sodic had net income of $10,500 for 2019. Assume that the tax rate is 30%. Throughout 2019,5,000 shares of ordinary shares were outstanding Instructions 1. Compute diluted earnings per share for 2019 (5 marks). 2. Assume that the Sodic Enterprises also issued 100, 10% convertible preference shares (par value $100 per share) at January 2019, each converted into 5 Ordinary shares. Recalculate the dilutive EPS (1 mark). National SA reported net income of 1,991,250 in 2019. It has declared dividends of $2 per share on 90,000 shares of preference shares outstanding National also has the following changes in its ordinary shares outstanding during 2019. Beginning balance on January 1 1,000,000 shares March 1 Issued 200,000 shares June 1 Issued a 3-for-1 stock split November 1 Acquired 300,000 treasury shares Required: 1) Calculate the weighted average number of ordinary shares outstanding in 2019. 2) Calculate the basic earnings per share in 2019