The following selected information is for the Parson Corp. on Dec. 31. 2000 (at the end of 2000): 10% Convertible Bonds, due on Jan. 1, 2008, (each $1,000 bond is convertible into 30 shares of common stock] 10% Noncumulative Preferred Stock, S50 par, 30,000 shares $10,000,000 authorized; 10,000 shares issued & outstanding 500,000 8% Cumulative Convertible Preferred Stock, S75 par, 50,000 shares authorized; 8,000 shares issued & outstanding (each share of preferred stock is convertible into five shares of common stock] 600,000 Common Stock, S6 par, 800,000 shares authorized; 240,000 shares issued and outstanding 1,440,000 Additional Information: (a) During 2000, Parson reported $884,000 of net income, paid common shareholders a dividend of $1.00 per share, and operated in the 40% tax bracket. (b) During 2000, Parson had the following common stock transactions: March 1: Acquired 30,000 shares of treasury stock July 1: Reissued the 30,000 shares of treasury stock Oct.. 1: Issued 60,000 shares of common stock (c) The bonds were issued on Jan. 1, 1984, at a discount. This "discount" account had a Jan. 1, 2000, balance of $400,000. (d) The convertible preferred stock was issued in 1980 for $100 per share. (e) Stock options had been granted in 1997 for 30,000 shares of common stock at an option price of $25 per share. These rights are still outstanding and exercisable. (1) Market prices for Parson common stock in 2000 were as follows: Average for the Year, $30.00; Fourth Quarter Average, $37.50; Dec 31, 2000, 532.00 (g) On Jan. 1, 2000, a contingent issuance was issued to the CEO of company. This agreement states that if the company averages Net Income of $2,000,000 per year for the three-year period, 2000-2002, the president of the company will receive 40,000 shares of common stock. Required: Very clearly showing all of your work [including any checks that you might have made). compute Parson's basic and diluted earning per share for 2000