Question 2 On June 1, 2015, Wildhorse Company and Sheffield Company merged to form Tamarisk Inc. A total of 837,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis On April 1, 2017, the company issued an additional 596,000 shares of stock for cash. All 1,433,000 shares were outstanding on December 31, 2017. Tamarisk Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2017. Each $1,000 bond converts to 36 shares of common at any interest date. None of the bonds have been converted to date. Tamarisk Inc. is preparing its annual report for the fiscal year ending December 31, 2017. The annual report will show earnings per share figures based upon a reported after-tax net income of $1,592,000. (The tax rate is 40% Determine the following for 20127 (a) The number of shares to be used for calculating: (Round answers to 0 decimal places, e.g. $2,500.) (1) Basic earnings per share (2) Diluted earnings per share (b) The earnings figures to be used for calculating: (Round answers to O decimal places, e.g. $2,500.) (1) Basic earnings per share (2) Diluted earnings per share Click if you would like to Show Work for this question: Open Show Work shares shares