Sandhill Corporation has net income for the year of $420,250 and a weighted average number of common shares outstanding during the period of 102,500 shares. The company has two convertible debenture bond issues outstanding. One is a 6% issue sold at 100 (total $1 million) in a prior year and convertible into 23,300 common shares. The other is a 10% issue sold at 100 (total $500,000 ) on April 1 of the current year and convertible into 36,200 common shares. The tax rate is 30\%. Calculate basic carnings per share and diluted earnings per share and show how they would be presented in the financial statements. (Round earnings per share answers to 2 decimal places, e.s. 15.25.) Net income for the year $ Earnings per share: Basic earnings per share $ Diluted earnings per share s