The following information was taken from the books and records of Ashlea Ltd$.$:

Net Income

$$560,000$

Common shares, $200,000$ shares outstanding during the entire year. $2,000,000$

Income tax rate $30\%$

Average market price per share for common shares $$32$

Show all calculations for the following questions.

i$.$ Calculate the basic earnings per share

ii$.$ Assume that the company has convertible $6\%$ bonds, issued at par. Each of the $300,$ $$1,000$ bonds is convertible into $50$ common shares at the present date and for the next $10$ years. No bonds were converted during the year and bonds were outstanding the entire year. Calculate the diluted earnings per share

iii. Assume that the company has no convertible debt but instead has stock warrants outstanding to buy $16,000$ common shares at $$20$ per share. Warrants were outstanding the entire year and no warrant was exercised during the year. Calculate the diluted earnings per share

iv$.$ Assume that the company has both convertible bonds in ii$)$ and warrants in iii$)$ outstanding.

Which one is more dilutive?

Report the Basic and the diluted earnings per share.