On January 1, 2017, Medlock Company issued 10-year, $2, 060, 000 face value, 6% bonds, at par. $1, 000 bond convertible into 15 shares of Medlock common stock. Medlock net income in 2017 was $295, 000, and its tax rate was 40%. The company had 103, 000 shares or common stock outstanding throughout 2017. None or the bonds were converted in 2017. (a) Compute diluted earnings per share for 2017. (Round answer to 2 decimal places, e.g. $2.55.) earnings per share $ (b) Compute earnings per share for 2017, assuming same facts as above, except that $1, 036, 000 of 6% convertible preferred stock was issued instead or the bonds. Each $100 preferred share is convertible into 5 shares of Medlock common stock. (Round answer 2 decimal places, e.g. $2.55.) earnings per share $