During all of the year just ended, littlefield, inc., had outstanding 100,000 shares of common stock and 5,000 shares of noncumulative, $7 preferred stock. each share of the latter is convertible into three shares of common. for the year, littlefield had $230,000 income from continuing operations and a $575,000 loss on discontinued operations; no dividends were paid or declared. littlefield should report diluted earnings (loss) per share (deps) for income from continuing operations and for net income (loss), respectively, of:

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers. b) may not accept the offer because it is considered lavish entertainment. c) must obtain written consent from batts brothers before accepting the offer.