Sheffield Company's net income for $2025$ is $$53,200.$ The only potentially dilutive securities outstanding were $1,000$ options issued during $2024,$ each exercisable for one share at $$6.$ Non$$ has been exercised, and $10,700$ shares of common were outstanding during $2025.$ The average market price of Sheffield's stock during $2025$ was $$25.$

a$.$ Compute diluted earnings per share. $($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Diluted earnings per share $

b$.$ Assume the same facts as those assumed for part $($a$),$ except that the $1,000$ options were issued on October $1,2025($rather than in $2024).$ The average market price during the last $3$ months of $2025$ was $$25.($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Diluted earnings per share

$