Earnings Per Share-Basic and Diluted
Greenwich Corporation Had Profit of $1,712,500

Earnings per share-basic and diluted
Greenwich Corporation had profit of $1,712,500 in 2009. The company had 300,000 shares of $4 par value ordinary share and 25,000 shares of 8%, $100 par, convertible preference share outstanding throughout the year. Each share of preference share is convertible into four shares of ordinary share. Compute the following for 2009: (a) Basic earnings per share:$ $\underline{\quad\quad}$ per share.
(b) The number of shares to be used in computing diluted earnings per share.