prepare in good form and detail.

Stock) On January 1, 2025, Crocker Company B15.25 (L.O.5) (EPS with Convertible Bonds and Preferred Stock) On lantary 1,00 bond is contible into 15 shares of Crocker isued to-year, $2,000,000 face value, 6% bonds, at par. Bach $1,000 bond is convertible into 15 shares of 20%. The company had 100,000 common stock. Crocker's net income in 2025 was $400,000, and its tax ratewas 20%. The conted in 2025 . shares of common stock outstanding throughout 2025. Non Instructions a. Compute diluted earnings per share for 2025 . b. Compute diluted earnings per share for 2025 , assuming the same facts as in part (a) except that $1,000,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Crocker common stock