Round earnings per share to two decimal places. 1. Compute the number of shares that should be used for the computation of basic earnings per share for the year ended December 31 , 2019 . shares 2. Compute the basic earnings per share for the year ended December 31,2019. per share 3. Compute the number of shares that should be used for the computation of diluted earnings per share for the year ended December 31,2019 . shares 4. Compute the diluted earnings per share for the year ended December 31, 2019 . \$5 per share Earnings Per Share Olmstead Cocporation's capital structure is as follows: The foliowing additional information is available: 1. On September 1,2019, Otmstead sold 36,000 additional shares of common stock. 2. Net income for the year ended December 31,2019 , was $750,000. 3. During 2019, Oimstead paid dividends of $3 per share on its nonconvertible preferred stock. 4. The 8% convertible bonds are convertible into 40 shares of common stock for each $1,000 bond. 5. Unexercised compensatory share options to parchase 30,000 shares of common stock at $20.50 per share were outstanding at the beginning and end of 2019 , The average market price of Olmstead's common stock was $36 per share during 2019. The market price was $33 per share at December 31 , 2019 . The unrecognized compensation cost (net of tax) related to the options is $2 per share. 6. Warrants to purchase 20,000 shares of common stock at $38 per share were attached to the preferred stock at the time of issuance. The wacrants, which expire on 7. Olmstead's effective income tax rate was 30% for 2018 and 2019