The controller at Artic Gear Industries, a public company, is preparing the calculation for basic and diluted earnings per share and the related disclosure for Artic Gear$$s financial statements. The following is selected financial information for the fiscal year end December $31,2023.$

Long term debt

Notes payable, $5\%$ $ $1,800,000$

$8\%$ convertible bonds $9,000,000$

$10\%$ bonds payable $7,200,000$

Total long term debt $$18,000,000$

Shareholder$$s Equity

Preferred shares, convertible, $$7,00$ cumulative,

$200,000$ Shares authorized, $50,000$ shares issued

and Outstanding $$2,750,000$

Common shares, unlimited authorized, XXXXX

shares issued and Outstanding $8,550,000$

Contributed surplus conversion rights $450,000$

Retained earnings $7,650,000$

Total shareholders$$ equity $$19,400,000$

The following transactions occurred at Artic Gear:

$1.$ Options were granted by the company to purchase $45,000$ common shares at $$18$ per share. No options have been exercised and the average price of the common shares in $2023$ was $$27.$

$2.$ The convertible, cumulative $$7\mathrm{.}00$ preferred shares were issued in $2023$ and are convertible into two common shares.

$3.$ The bonds were issued at face value. The $8\%$ convertible bonds will convert into common shares at $70$ shares per $$1,000$ bond.

$4.$ There are no preferred dividends in arrears, and preferred dividends were not declared in $2023.$

$5.$ The following common share transactions occurred during the year.

Jan $1900,000$ shares outstanding

May $1$ Issued $90,000$ common shares

June $30$ Issued a $10\%$ stock dividend

September$30$ Acquired $27,000$ common shares

November $1$ Issued $36,000$ common shares

$6.$ Net income for fiscal year $2023$ was $$1,890,000$ and the average income tax rate was $30\%.$

Required:

Calculate basic and diluted earnings per share. Please rank your calculations for diluted earnings per share and present in table format from most to least dilutive.