LP320 TUR) HERREN Bloodhound Corp. provides the following data for calendar 2020 Net Income...... Transactions in Common Shares Change Jan 1 beginning Mar 1 purchase of treasury shares (60,000) Jun 1 shares split 2 for 1 940,000 Nov 1 issuance of new shares 120,000 $ 2,400,000 Cumulative 1,000,000 940,000 1,880,000 2,000,000 8% Cumulative Convertible Preferred Shares (no par) Convertible into 200,000 common shares adjusted for split on June 1.......... $ 1,000,000 Stock Options Exercisable at the option price of $ 25 per share. Average market price in 2020 was $ 30 (market price and option price adjusted for split), 60,000 shares Instructions a) Calculate basic earnings per share for 2020, b) Calculate diluted earnings per share for 2020, Bloodhound Corp. provides the following data for calendar 2020 Net Income.............. Transactions in Common Shares Change Jan 1 beginning Mar 1 purchase of treasury shares (60,000) Jun 1 shares split 2 for 1 940,000 Nov 1 issuance of new shares 120,000 $ 2,400,000 Cumulative 1,000,000 940,000 1,880,000 2,000,000 8% Cumulative Convertible Preferred Shares (no par) Convertible into 200,000 common shares adjusted for split on June 1............ $ 1,000,000 Stock Options Exercisable at the option price of $ 25 per share. Average market price in 2020 was $ 30 (market price and option price adjusted for split)........... 60,000 shares Instructions a) Calculate basic earnings per share for 2020. b) Calculate diluted earnings per share for 2020