Oriole Corporation is preparing earnings per share data for 2020. The net income for the year ended December 31, 2020, was $395.000 and there were 58,300 common shares outstanding during the entire year. Oriole has the following two convertible securities outstanding: 11% convertible bonds (each $1,000 bond is convertible into 20 common shares) 4% convertible $100 par value preferred shares (each share is convertible into 2 common shares) $100,000 $50,000 Both convertible securities were issued at face value in 2017. Oriole's income tax rate is 24%. The preferred shares are cumulative. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately. Assume that 40% of the convertible bonds were converted to common shares on April 1, 2020. The balances at December 31, 2020 do not reflect the conversion of April 1, 2020. Calculate Oriole's weighted average common shares outstanding. (For your calculation, round bond value and final answer to 0 decimal places, e.g. 5,250.) Weighted average number of common shares shares e Textbook and Media Calculate the income effect of the dividends on preferred shares. $ $ Dividends on preferred shares 393000 Calculate Oriole's basic earnings per share for 2020. (Round answer to 2 decimal places, e.g. 15.25.) $ $ Basic earnings per share e Textbook and Media Calculate the after-tax interest paid on the 11% bonds. $ After-tax interest on bonds converted e Textbook and Media Determine an incremental per share effect for 11% bonds. (Round earnings per share to 2 decimal places, e.g. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 11% Bonds $ $ $ Determine an incremental per share effect for 4% preferred shares. (Round earnings per share to 2 decimal places, eg. 15.25.) Potentially dilutive security 4% Preferred shares Incremental Numerator Effect Incremental Denominator Effect EPS $ $ e Textbook and Media Rank the potentially dilutive securities from most dilutive to least dilutive. 11% Bonds > 4% Preferred shares e Textbook and Media Calculate Orioles diluted earnings per share for 2020. (Round earnings per share to 2 decimal places, e.g. 15.25.) Numerator Denominator EPS $ $ $ $ Basic Sub Total $ $ Diluted EPS e Textbook and Media