calculate basic earnings per share for 2022

EPS Problem D (This one is tedious...) The stockholders' equity section of Clark Company's balance sheet as of December 31, 2022 $2 annual dividend, cumulative convertible preferred stock (par value $25 a share, authorized 1,500,000 shares, issued 1,400,000, converted to common 750,000, and outstanding 650,000 shares, liquidation value, $30 a share, aggregating $19,500,000). Each share of preferred is convertible into two $16,250,000 shares of common Common stock (par value $ 25 a share, authorized 15,000,000 shares, issued and outstanding 9,200,000 shares) 2,300,000 Additional paid-in capital 30,500,000 PIC Options 2.440,000 Retaining earnings 45.050.000 Total stockholders' equity $96.540,000 Included in the liabilities of Clark Company are 10% convertible subordinated debentures issued at their face value of $20,000,000 in 2017. The debentures are due in 2037 and until then are convertible into the common stock of Clark Company at the rate of five shares of common stock for each $100 debenture. To date none of these has been converted On April 2, 2022, Clark Company issued 1 400,000 shares of convertible preferred stock at $40 per share. Quarterly dividends to December 31, 2022 have been paid on these shares. On October 1 2022, 150,000 shares and on November 1, 2022, 600,000 shares of the preferred stock were converted, In early January 2021, Clark Company granted options to its officers and key employees to purchase 610,000 shares of the company's common stock at a price of $20 a share. The plan was considered an incentive stock option plan for tax purposes. The fair value of the options were $4 at the date of grant, and the service period was two years (2022 and 2021). During 2022, dividend payments and average market prices of the Clark common stock were Dividend 0.CL Avg. Market Price DA-CLA During 2022, dividend payments and average market prices of the Clark common stock were: First quarter Second quarter Third quarter Fourth quarter Average for the year Dividend Per Share $.10 13 15 12 Avg. Market Price Per Share $25 30 20 25 25 Clark Company's consolidated net income for the year ended December 31, 2022, was 18 2019 CLASS NOTES: EARNINGS PER SHARE 19 $11,360,000. Income taxes were computed at a marginal rate of 20%