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Ivanhoe Corporation issued $4 million of 10 -year, 8% callable convertible subordinated debentures on January 2,2023 . The debentures have a face value of $1,000, with interest payable annually. The current conversion ratio is 15:1, and in two years it will increase to 18:1. At the date of issue, the bonds were sold at 100 to yield a 8% effective interest rate. The bond discount is amortized using the effective interest method. Ivanhoe's effective tax rate was 35%. Net income in 2023 was $8.0 million, and the company had 2 million shares outstanding during the entire year. For simplicity, ignore the requirement to record the debentures' debt and equity components separately. (a) Calculate basic earnings per share. (Round answers to 2 decimal places, e.g. 15.25.) Basic earnings per share On January 1,2023 , Sandhill Manufacturers had 354,000 common shares outstanding. On April 1 , the corporation issued 35,400 new common shares to raise additional capital. On July 1, the corporation declared and distributed a 10\% stock dividend on its common shares. On November 1, the corporation repurchased on the market 11,400 of its own outstanding common shares to make them available for issuances related to its key executives' outstanding stock options. (a) Calculate the weighted average number of shares outstanding as at December 31,2023 . (Round answer to O decimal places, e.g- 5,255.) Weighted average number of shares outstanding shares Crane Corporation reported net income of $539,000 in 2023 and had 700,000 common shares outstanding throughout the year. On May 1, 2023, Crane issued 5\% convertible bonds. Each $1,000 bond is convertible into 120 common shares. Total proceeds at par amounted to $980,000 and were allocated to the liability and equity components under the residual value method The liability component was measured first, at the present value of the stream of interest payments plus the present value of the bond maturity value, all discounted at 8% (the interest rate that applies to similar straight bonds). At the time of issuance, the liability component was recorded at $906,000. Crane's tax rate is 30%. Calculate Crane's 2023 diluted earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share $