I need help solving the following problems and i would like to see each step explained if possible.

1. Peine Co. had 300,000 shares of common stock issued and outstanding at December 31, 2006. No common stock was issued during 2007. On January 1, 2007, Peine issued 200,000 shares of nonconvertible preferred stock. During 2007, Peine declared and paid $100,000 cash dividends on the common stock and $80,000 on the preferred stock. Net income for the year ended December 31, 2007 was $620,000. What should be Peine's 2007 earnings per common share?

2. Lemke Co. has 4,000,000 shares of common stock outstanding on December 31, 2006. An additional 200,000 shares are issued on April 1, 2007, and 480,000 more on September 1. On October 1, Lemke issued $6,000,000 of 9% convertible bonds. Each $1,000 bond is convertible into 40 shares of common stock. No bonds have been converted. The number of shares to be used in computing basic earnings per share and diluted earnings per share on December 31, 2007 is