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Sheridan Inc. has $0\mathrm{.}95$ million common shares outstanding as at January $1,2023.$ On June $30,2023,4\backslash \%$ convertible bonds were converted into $105,000$ additional shares. Up to that point, the bonds had paid interest of $\backslash$$$210,000$ after tax. Net income for the year was $\backslash (\backslash$$ $1,293,225\backslash ).$ During the year, the company issued the following:

$1.$ June $30$ : $12,300$ call options giving holders the right to purchase shares of the company for $\backslash (\backslash$$ $25\backslash )$

$2.$ September $\backslash (30$: $17,300\backslash )$ put options allowing holders to sell shares of the company for $\backslash (\backslash$$ $20\backslash )$

On February $1,$ Sheridan also purchased in the open market $12,300$ call options on its own shares, allowing it to purchase its own shares for $\backslash (\backslash$$ $22\backslash ).$ Assume the average market price for the shares during the year was $\backslash (\backslash$$ $30\backslash ).$

$($a$)$

Your answer is correct.

Calculate the weighted average number of common shares outstanding as at December $31,2023.$

Weighted average number of common shares outstanding

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Your answer is incorrect.

Calculate the required EPS numbers under IFRS. For simplicity, ignore the impact that would result from the convertible debt

being a hybrid security. $($Round answers to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Basic EPS

Diluted EPS

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$($c$)$

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