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Whitefish, Inc. is a publicly traded company with a complex capital structure. The following shareholders' equity portion of the balance and summary income statements relate

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Whitefish, Inc. is a publicly traded company with a complex capital structure. The following shareholders' equity portion of the balance and summary income statements relate to Whitefish, Inc. on December 31, 2020. Shareholders' Equity Section Common Stock - $1 par value; 200,000 shares authorized, 150,000 shares issued, 140,000 shares outstanding $150,000 Convertible $2 preferred stock - $10 par value; 25,000 shares 250,000 authorized, issued, and outstanding Additional paid-in capital - Common Stock 600,000 Additional paid-in capital - Preferred Stock 375,000 Retained Earning 1,245,000 Treasury stock, at cost 10,000 common shares (70,000) Total Shareholders' Equity Section $2,550,000 Summary Income Statement Income from Continuing Operations, after tax Discontinued operations, net of tax effect Net Income $854,000 (34,000) $820,000 In addition, Whitefish has 5% convertible bonds reported as long-term liability. The 5% bonds are convertible into 25,000 shares of common stock. During 2020, Whitefish paid required dividends on its preferred stock. The preferred shares are convertible into 75,000 shares of common stock. No other stock issues or repurchase of stock for treasury occurred during the year. irements: Create an Excel worksheet to display the computation for (a) basic earnings per share for 2020 including weighted-average common shares outstanding and (b) diluted earnings per share for 2020 including weighted average common shares outstanding. Show all calculations. Format earnings per share using accounting format with 2 decimal places

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