Maleficent Limited, a public company, is required to disclose earnings per share information in its financial statements for the year ended 31 December 2016. The facts about Aurora's situation are as follows: a. On January 1, 2016, 450,000 common shares were outstanding with a cost of $5.75 million. Also outstanding on 1 January were 50,000 $1 cumulative preferred shares. They had been issued for $500,000 b. On 31 March 2016, Maleficent issued 100,000 common shares for $1.5 million cash c. On 1 August 2016, Maleficent made a private share placement of 25,000 common shares, raising $350,000 cash. d. On November 1, 2016, Maleficent Limited declared a 2 for 1 stock split. e. Maleficent reported net income of $2.5 million for the year ended 31 December 2016 f. At 1 January 2016, Maleficent had outstanding $1 million (par value) of 8% convertible bonds ($1,000 face value), with interest payable on 30 June and 31 December of each year. Each $1,000 bond is convertible into 65 common shares, at the option of the holder. All conversions would be subject to the stock split (i.e. 2 for 1). Bond interest expense of $59.750 was recognized this year. g. Maleficent have options outstanding for 50,000 common shares at a price of $5 per share. The average market value of common shares during the period was $25. These are already adjusted for the stock split. h. Maleficent has an effective tax rate of 40%. Required: Calculate the basic and diluted earnings per share figures for 2016