On january 1, 20x4, brock company issued $1,000,000 of 6% cumulative convertible preferred stock. each $100 par preferred share is convertible into 5 shares of brock company common stock. brock company's 20x4 net income was $300,000 and their tax rate was 40%. the company had 100,000 shares of common stock outstanding throughout 20x4. none of the preferred stock was converted in 20x4.compute diluted earnings per share for 2014.