Triton Incorporated began 2019 with 10,000 shares of $10 par common stock and 2,000 shares of 9.4%, $100 par, convertible stock outstanding. On April 1 the company issued 2,000 shares of common stock. On June 1 the company issued 6,000 shares of common stock. On November 15, Triton declared a 2-ofr-1 stock split. The preferred stock was issued in 2018. Each share of preferred stock is currently convertible into 4 shares of common stock. To date, no preferred stock has been converted, Current dividends have been paid on both preferred and common stock. The company issued 22,000 stock options on January 2, 2019. Net income after taxes for 2019 totaled $109,800. The company is subject to a 30% income tax rate. The common stock sold at an average market price of $20 per share during 2019. Required: 1. Compute basic earnings per share. Show supporting calculations. 2. Compute diluted earnings per share. Show supporting calculations