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 59,400 common shares outstanding during the entire year. Oriole has the following two convertible securities outstanding:

10% convertible bonds (each $1,000 bond is convertible into 20 common shares)		$103,000
3% convertible $100 par value preferred shares (each share is convertible into 2 common shares)		$49,000

Both convertible securities were issued at face value in 2017. There were no conversions during 2020, and Orioles income tax rate is 25%. The preferred shares are cumulative. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately.

Calculate the income effect of the dividends on preferred shares. (Dividends on Preference Share)

Calculate Orioles basic earnings per share for 2020.

Calculate the after-tax interest paid on the 10% bonds.

Recalculate Orioles basic and diluted earnings per share for 2020, assuming instead that the preferred shares pay a 15% dividend. Calculate the income effect of the dividends on preferred shares.

Calculate Oriole's basic earnings per share for 2020.

Calculate Oriole's dilutive earnings per share for 2020.

Determine an incremental per share effect for each potentially dilutive security. (Round earnings per share to 2 decimal places, e.g. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS Bonds 10% $ $ $ Determine an incremental per share effect for each potentially dilutive security. (Round earnings per share to 2 decimal places, e.g. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 3% Preferred shares $ $ $ Calculate Oriole's diluted earnings per share for 2020. (Round earnings per share to 2 decimal places, e.g. 15.25.) Numerator Denominator EPS $ S $ Basic Sub Total $ $ Determine an incremental per share effect for the 15% preferred shares. (Round earnings per share to 2 decimal places, e.g. 15.25.) Potentially dilutive security Incremental Numerator Effect Incremental Denominator Effect EPS 15% Preferred shares $ $ $ W The 15% shares are