Mamba Metals, Limited reported net income of $$760,000$ for its fiscal year ended January $31,2023.$ At the beginning of that fiscal year, $166,000$ shares of common stock were outstanding. On October $31,2022$ an additional $49,000$ shares were issued. No other changes In common shares outstanding occurred during the year. Also during the year, the company pald the annual divdend on the $27,000$ shares of $5\%,$$$50$ par value preferred stock that were outstanding the entre year.

Required:

a$.$ Calculate basic earnings per share of common stock for the year ended January $31,2023.$

Note: Round your answer to $2$ decimal places.

b$.$ If Mamba Metals, Limited's preferred stock were convertble into common stock, what additional calculation would be required?

Answer is complete but not entirely correct.

$\backslash$table$[[$a$.$ Earnings per share,$8,4\mathrm{.}58],[$b$.$ Additional calculation,Diluted eamings per share $,0,]]$