Novak Corporation earned $371,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $21 per share during the period. Also outstanding were 16,200 warrants that could be exercised to purchase one share of common stock for $14 for each warrant exercised. (a) Are the warrants dilutive?                                                             (b) Compute basic earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Basic earnings per share   $  (c) Compute diluted earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

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