Q1 Sosa Co.'s stockholders' equity at January 1, 2018 is as follows:

Sosa Co.'s stockholders' equity at January 1, 2018 is as follows:

Common stock, $20 par value; authorized 300,000 shares;

   Outstanding 225,000 shares                           $4,500,000

   Paid-in capital in excess of par                          1,600,000

   Retained earnings                                    4,380,000

      Total                                          $10,480,000

During 2018, Sosa had the following stock transactions:

Acquired 6,000 shares of its stock for $540,000.

Sold 3,600 treasury shares at $100 a share.

Sold the remaining treasury shares at $82 per share.

No other stock transactions occurred during 2018. Assuming Sosa uses the cost method to record treasury stock transactions, the total amount of all additional paid-in capital accounts at December 31, 2018 is

Q2 At December 31, 2017, Emley Company had 1,200,000 shares of common stock outstanding. On October 1, 2018, an additional 400,000 shares of common stock were issued. In addition, Emley had $14,000,000 of 6% convertible bonds outstanding at December 31, 2017, which are convertible into 125,000 shares of common stock. No bonds were converted into common stock in 2018. The net income for the year ended December 31, 2018, was $5,250,000. Assuming the income tax rate was 30%, what should be the diluted earnings per share for the year ended December 31, 2018, rounded to the nearest penny?