Sheffield Corporation earned $$410,000$ during a period when it had an average of $100,000$ shares of common stock outstanding. The

common stock sold at an average market price of $$18$ per share during the period. Also outstanding were $13,500$ warrants that could

be exercised to purchase one share of common stock for $$12$ for each warrant exercised.

a$.$ Are the warrants dilutive?

b$.$ Compute basic earnings per share. $($Round answer to $2$ decimal places, eg$.2\mathrm{.}55.)$

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

Diluted earnings per share