We present Wilcox Incorporated's current$-$year partial income statement. Wilcox is subject to a $30\%$ income tax rate.

$($Click the icon to view the partial income statement for the current year.$)$

A partial balance sheet for the current year follows.

$($Click the icon to view the partial balance sheet for the current year.$)$

Read the requirements.

Requirement a$.$ Based on the information provided, compute basic and diluted earnings per share $($EPS$)$ for the current year. Include all computations related to the application of antidilution sequencing, if needed. any zero balances. Round the increase in income amounts to the nearest dollar. Round the incremental income per share amounts to the nearest cent, $$x.xx.)$

$\backslash$table$[[\backslash$table$[[$Potentially Dilutive$],[$Security$]],\backslash$table$[[$Increase$],[$in Income$]],\backslash$table$[[$Increase in the$],[$Number of$],[$Common Shares$]],\backslash$table$[[$Incremental$],[$Income per$],[$Share$]],\backslash$table$[[$Rank Order of$],[$Entry into the EPS$],[$Computation$]]],[5\%$ convertible debt$],[$Convertible preferred stock$],[$Employee options,,,,$]]$

Requirements

a$.$ Based on the information provided, compute basic and diluted earnings per share for the current year. Include all computations related to the application of antidilution sequencing if needed.

b$.$ Prepare the income statement disclosures required beginning with income from continuing operations.