2. Watson had 2 million ordinary shares in issue throughout 2019. On 1 January 2019 the company issued 500,000 $1 units of 6% convertible loan stock. Each unit of stock is convertible into 2 ordinary shares on 1 January 2022 at the option of the holder. The following is an extract from Watson's statement of profit or loss for the year ended 31 December 2019. $'000 Profit before interest and tax 1,000 Interest payable on 6% convertible loan stock (30) Profit before tax 970 Income tax expense (at 20%) (194) Profit for the year 776 Required What was the basic and diluted earnings per share for the year ended 31 December 2019