SunlandCorporation earned $322,000during a period when it had an average of100,000shares of common stock outstanding. The common stock sold at an average market price of $21per share during the period. Also outstanding were13,800warrants that could be exercised to purchase one share of common stock for $14for each warrant exercised.

(a)Are the warrants dilutive?

Yes

No

(b)Compute basic earnings per share.(Round answer to 2 decimal places, e.g. $2.55.)

Basic earnings per share$

(c)Compute diluted earnings per share.(Round answer to 2 decimal places, e.g. $2.55.)

Diluted earnings per share$