Profits, Inc. (PI), has the following capital structure: 2.50 million common shares outstanding. o $2.00 per share dividend paid annually at the discretion of the Board. 1.0 million convertible preferred shares outstanding. o $10 par value o 15% dividend o Convertible to 75,000 common shares $2,000,000 par value convertible bond. o Convertible to 300,000 common shares o 10% coupon For the period, PI reported earnings before taxes of $10.50 million. Management has also confirmed the following shareholder equity transactions for the period: November 1st issued an additional 500,000 common shares with a $2 par value. May 1st the Board declared a 30% common stock dividend. October 1st PI purchased 300,000 of its common shares at the market. At the end of the year, employee stock options on 200,000 common shares were outstanding. Each option offered a strike price of $25 per share. PI's stock is currently trading at $22 per share on the Putzzi 6,000 exchange Required: Assuming a tax rate of 30%, calculate PI's basic and fully diluted earnings per share for the period just ended