Schwabisch Hall Corp. provides the following data for calendar 2020 (Total: 30 marks) Net Income $ 2,400,000 Change Transactions in Common Shares Jan 1: Beginning Mar 1: Purchase of treasury shares Jun 1: Shares split 2 for 1 Nov 1: Issuance of new shares (60,000) 940,000 120,000 Cumulative 1,000,000 940,000 1,880,000 2,000,000 8% Cumulative Convertible Preferred Shares (no par) Convertible into 200,000 common shares adjusted for split on June 1 = $ 1,000,000 Stock Options Exercisable at the option price of $25 per share. Ave, market price in 2020 was $30 (market price and option price adjusted for split) = 60,000 shares Required a. Calculate basic earnings per share for 2020. b. Calculate diluted earnings per share for 2020