The following information relates to UCI Company for 2020:

Common shares outstanding 1/1/20 .................................................................	100,000
Common shares issued 7/1/20 upon conversion of bonds having a face amount of $200,000................................................................	10,000
Net income2020 ............................................................................................	$200,000
Income tax rate .................................................................................................	40%

4%, 10-year convertible bonds issued 1/1/20 at 100:

Face amount

$200,000

Conversion terms50 shares of common for each $1,000 bond (all of the bonds were converted on 7/1/20.)

10%, $10 par, convertible, cumulative preferred stock issued 1/1/19 at $11:

Par value $500,000

Conversion terms2 shares of common for each share of preferred.

Instructions:

1. Compute the basic earnings per share for UCI at the end of 2020.
2. Compute diluted earnings per share for UCI at the end of 2020.