The following transactions have also occurred at Fitzgerald. 1. Options were granted on July 1, 2019, to purchase 200,000 shares at $15 per share. Although no options were exercised during fiscal year 2020, the average price per common share during fiscal year 2020 was $20 per share. 2. Each bond was issued at face value. The 8% convertible bonds will convert into common stock at 50 shares per $1,000 bond. The bonds are exercisable after 5 years and were issued in fiscal year 2019. 3. The preferred stock was issued in 2019. Assume each preferred stock is convertible into 4 shares of common stock. 4. There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year 2020 . 5. The 1,000,000 shares of common stock were outstanding for the entire 2020 fiscal year. 6. Net income for fiscal year 2020 was $1,500,000, and the average income tax rate is 20%. For the fiscal year ended June 30,2020 , calculate the following for Fitzgerald Pharmaceutical Industries. (Round answers to 2 decimal places, e.g., \$2.45) (a) Basic earnings per share. (b) Diluted earnings per share