In 2022, Blossom Ltd. issued $55,000 of 8% bonds at par, with each $1,000 bond being convertible into 100 common shares. The company had revenues of $79,800 and expenses of $43,300 for 2023, not including interest and tax. (Assume a tax rate of 20%.) Throughout 2023, 1,800 common shares were outstanding, and none of the bonds were converted or redeemed. (For simplicity, assume that the convertible bonds' equity element is not recorded.) (a) Your Answer Correct Answer (Used) Calculate income available to common shareholders. Income available to common shareholders SA $ 25,680 (b) Calculate diluted earnings per share for the year ended December 31, 2023. For simplicity, ignore the requirement to record the bonds' debt and equity components separately. The bonds are assumed to be converted for the entire year. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share LA $