(a) Calculate basic earnings per share for 2019 (3 marks)(b) For item (i) use the Treasury Stock Method to calculate the number of additional shares which will be required ad explain whether these Options are dilutive(3 marks)For item(ii), the 4% convertible bonds , use the What If Method to determine whether these bonds are dilutive(6 marks)For item (iii), the convertible preferred shares are these dilutive?(2 marks).

X Ltd. Partial Balance Sheet Long-Term Debt: As at December 31- 2019 Notes Payable(10%).. . ... 4%, convertible bonds payable.. ..$2,500,000 TOTAL.. $4,000,000 Shareholders' Equity:- $6,500.000 $0.34, no par value, convertible preferred shares:- Authorized (Unlimited Number) Issued and Outstanding, 300,000... Common Shares, no par value .1,500,000 Authorized 16,000,000 Issued and Outstanding 3,000,000.. Contributed Surplus..... . 12,500,000 Retained Earnings. -..... 400,000 -$14,000.000 TOTAL.. $28.400,000 Additional Information:- Options were granted written in 2018. This gave the holder the right to purchase 100,000 common shares at $8.00per share. The average market price of the company's common shares during 2019 was $14 per share. The options expire in 2027 and no options were exercised in 2019. .The 4% bonds were issued in 2018 at face value. Each bond has a face value of $1,000 and is convertible into 100 common shares. ili. The convertible preferred shares were issued at the beginning of 2019. Each preferred share is convertible into one common share. The average income tax rate rate is 30%. v. The common shares were outstanding throughout the entire year. vi. Net income was $2.5million in 2019. vii. No bonds or preferred shares were converted during 2019. Required:- (a) Calculate basic earnings per share for 2019 (3 marks) (b) For item (i) use the Treasury Stock Method to calculate the number of additional shares which will be required ad explain whether these Options are dilutive(3 marks) For item(ii), the 4% convertible bonds , use the What If Method to determine whether these bonds are dilutive(6 marks) For item (lii), the convertible preferred shares are these dilutive? (2 marks)