I need help with the attached file please.

1. XYZ, INC had net income of $10 million for the year. It had outstanding 1 million commin stock shares until September 30th when it issued another 500,000 shares (1,500,000 at year-end). XYZ also had 50,000 preferred shares that paid a $4 annual dividend. The preferred stock was convertible into common stock at the rate of 2 common shares for each preferred share.

a. Calculate the company's basic AND fully diluted earnings per share.

2. a Describe the basic accounting treatment for STOCK Options and explain how and why companies might use them.

b. locate a major company that issued stock options in the recent past. Provide a link or upload the financial statements (notes) for the company. What was the major reason the company issued the options? Do you believe the accounting treatment is reasonable?

1. XYZ, INC. had net income of $10 million for the year. It had outstanding 1 million common stock shares until September 30th when it issued another 500,000 shares (1,500,000 at year-end). XYZ also had 50,000 preferred shares that paid a $4 annual dividend. The preferred stock was convertible into common stock at the rate of 2 common shares for each preferred share. a. Calculate the company's basic AND fully diluted earnings per share 2. a. Describe the basic accounting treatment for Stock Options and explain how and why companies might use them. b. Locate a major company that issued stock options in the recent past. Provide a link or upload the financial statements (notes) for the company. What was the major reason the company issued the options? Do you believe the accounting treatment is reasonable? 3. Garcia Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Assets: Balance Balance Cash and cash equivalents $ 36 $ 33 Accounts receivable 46 41 Inventory 53 59 Plant and equipment 472 460 Accumulated depreciation ( 218) ( 214) Total assets $389 $379 Liabilities and stockholders' equity: Accounts payable $ 52 $ 62 Long-term debt 289 330 Common stock 84 80 Retained earnings ( 36) ( 93) Total liabilities and stockholders' equity $389 $379 Income Statement Sales $737 Cost of goods sold 454 Gross margin 283 Selling and administrative expense 173 Net operating income 110 Income taxes 33 Net income $ 77 Cash dividends were $20. Prepare a statement of cash flows in good form using the indirect method