Question: During 2 0 2 3 , Anderson Corp. had 2 5 0 , 0 0 0 common shares outstanding for the full year. Market prices

During 2023, Anderson Corp. had 250,000 common shares outstanding for the full year. Market prices of the common shares during 2023 were:
January 1: $50
Years average: $53
December 31: $55
During 2023, there were:
50,000 outstanding stock options to buy common shares at $38 a share.
$3,000,000 of 6% convertible bonds issued at par. Each $1,000 bond is convertible into 25 common shares.
25,000 preferred shares each paying a $3.20 dividend and each convertible to one common share.
The income tax rate is 30%. The corporation reported $1,000,000 net income for calendar 2023.
Required
Calculate basic and diluted earnings per share for 2023. Clearly indicate your answers for basic and fully diluted EPS. Show all calculations for possible partial marks.

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