Please find the attached questions. There are 2 questions. Show all work.

Question one On January , 2016 Sussex Ltd. had 360,000 common shares issued and outstanding. During 2016 the following transactions occurred: Mar1 issued 157,500 common shares Apr 30 issued 5% stock dividend May 31 issued a 3 for 1 stock split July 31 Acquired 40,000 common shares Sept 30 Issued 50,000 common shares In addition to common shares Sussex had 40,000 of 8%, $100 par, cumulative preferred shares outstanding for the whole year. No dividends were declared during the year. Net income for the year was $2,250,000. Required: Calculate the earnings per share for the year. Question Two The controller at Artic Gear Industries, a public company, is preparing the calculation for basic and diluted earnings per share and the related disclosure for Artic Gear's financial statements. The following is selected financial information for the fiscal year end December 31, 2016. Long term debt Notes payable, 5% $ 1,800,000 8% convertible bonds 9,000,000 10% bonds payable 7,200,000 Total long term debt $18,000,000 Shareholder's Equity Preferred shares, convertible, $7.00 cumulative, 200,000 Shares authorized, 50,000 shares issued and Outstanding Common shares, unlimited authorized, 900,000 $2,750,000 shares issued and Outstanding Contributed surplus conversion rights Retained earnings Total shareholders' equity 8,550,000 450,000 7,650,000 $19,400,000 The following transactions occurred at Artic Gear: 1. Options were granted by the company to purchase 45,000 common shares at $18 per share. No options have been exercised and the average price of the common shares in 2016 was $27. 2. The convertible, cumulative $7.00 preferred shares were issued in 2012 and are convertible into two common shares. 3. The bonds were issued at face value. The 8% convertible bonds will convert into common shares at 70 shares per $1,000 bond. 4. There are no preferred dividends in arrears, and preferred dividends were not declared in 2016. 5. The following common share transactions occurred during the year. Jan 1 900,000 shares outstanding May 1 Issued 90,000 common shares June 30 Issued a 10% stock dividend September30 Acquired 27,000 common shares November 1 Issued 36,000 common shares 6. Net income for fiscal year 2016 was $1,890,000 and the average income tax rate was 30%. Required: Calculate basic and diluted earnings per share. Please rank your calculations for diluted earnings per share and present in table format from most to least dilutive