The following information is available in regards to Clark Ltd:

• Profit after tax for the financial year ending 30 June 2021 is $9,000,000.
• Clark had 5,400,000 ordinary shares outstanding on 1 July 2020.
• Clark issued an additional 300,000 ordinary shares on 1 May 2021.
• For the entire financial year ending 30 June 2021, Clark had 2,500,000 $1 preference shares outstanding, which provide dividends at an annual rate of 8%. The preference shares are convertible into ordinary shares on a one-for-five basis at the option of the preference shareholders (i.e., one additional ordinary share would be issued for every five preference shares converted).
• During the financial year ending 30 June 2021, Clark did not declare the preference dividend. The preference dividends are cumulative.
• On 1 July 2020, the company issued share options to purchase 380,000 ordinary shares at $12 each. No share options were exercised during the financial year.
• The average market price of Clarks ordinary shares during the financial year ending 30 June 2021 was $19 per share.
• The company tax rate is 30%.

Required:

(a) In accordance with AASB 133 Earnings per Share calculate basic earnings per share for year ending 30 June 2021. Round the basic earnings per share to three decimal places. Note: there are 28 days in February; 30 days in September, November, April, and June; 31 days in October, December, January, March, May, July, and August.

(b) In accordance with AASB 133 Earnings per Share calculate diluted earnings per share for year ending 30 June 2021. Round the diluted earnings per share to three decimal places.