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Problem 19-17 (Algo) EPS; options; convertible preferred; additional shares [LO19-4, 19-5, 19-6, 19-7, 19. 8, 19-9] On January 1, 2024, Jaewoo Industries had outstanding 800,000 common shares (\$1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ( $100 par), convertible into 30,000 common shares. - On October 1, 2024, Jaewoo sold and issued an additional 20,000 shares of common stock at $36. - At December 31,2024 , there were 28,000 incentive stock options outstanding, issued in 2023, and exercisable after one year for 28,000 shares of common stock at an exercise price of $30. - The market price of the common stock at year-end was $48. - During the year, the price of the common shares had averaged $40. - Net income was $940,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024 Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places