The information below pertains to Barkley Corp. for 2021 Net income for the year, $1,200,000 Common stock, $10 par value, $6,000,000 Income tax rate, 20% 7% convertible bonds payable, issued at face value ($1,000 per bond; each bond is convertible into 60 shares of common stock. The bonds were issued in 2020, 52,000,000 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 10 shares of common stock. The preferred stock was issued in 2019, 54,000,000 Average market price of the common stock during 2021 was $25 per share. Stock options to purchase 75,000 shares of common stock at an exercise price of $20 per share were granted in 2020 and remain outstanding, and expire in 2025. There were no changes during 2021 in the number of common shares, preferred shares, or convertible bonds outstanding, REQUIRED: 1) Calculate basic earnings per share for 2021. Calculate diluted earnings per share for 2021. 2)