Question 3 For the financial year ending 30 June 2021. Hewitt Lid eamed a profit after tax of $450,000. On 30 June 2021, the company had the following shares and other financial instruments outstanding - 1,000,000 ordinary shares issued and outstanding 500,000 convertible preference shares issued and outstanding (unchanged since 1 July 2020) 500,000 convertible notes issued at $1 each bearing interest at 2% per annum (unchanged since 1 July 2020) Share options to purchase 180,000 ordinary shares at $2 each (unchanged since 1 July 2020) Additional information: On 1 June 2021,400,000 new ordinary shares were issued. . During the financial year ending 30 June 2021, the ordinary shares traded at an average of $6 per share. Hewitt Ltd's income tax rate is 30%. The preference shares are convertible into 250,000 ordinary shares at the option of the preference shareholders. During the year, preference dividends of $75,000 were declared and paid. The notes are convertible into 100,000 ordinary shares at the option of the note holder. The options, convertible notes and convertible preference shares are all potential ordinary shares'. Required: In accordance with AASB 133 Earnings Per Share: a) Calculate the basic earnings per share for the year ended 30 June 2021. Round the basic emings per share to four decimal places. Note: there are 28 days in February, 30 days in September, November April, and June; 31 days in October, December, January, March, May, July, and August. 7 marks) b) Calculate the diluted earnings per share for the year ended 30 June 2021. Round the diluted earnings per share to four decimal places. (8 marks)