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On Jan. 1, 2012, Johnson company issued 10-year, $3,084,000 face value, 6% bonds at par. Each $1,000 bond is converted into 24 shares of Johnson common stock. Johnson's net income in 2012 was $297,000, and its tax rate was 40%. The company had 101,000 shares of common stock outstanding throughout 2012. None of the bonds were converted in 2012. (a) compute diluted earnings per share for 2012. Round answer to 2 decimal places. (b) Compute diluted earnings per share for 2012, assuming the same facts as above, except the $1,010,000 of 6% convertible preferred stock was issue instead of the bonds. Each 100 preferred share is convertible into 5 shares of Johnson common stock. Round answer to 2 decimal places.

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