Question: Im , Incorporated had 6 4 , 0 0 0 shares of common stock outstanding at January 1 , 2 0 2 4 . On

Im, Incorporated had 64,000 shares of common stock outstanding at January 1,2024. On March 31,2024, an additional 13,600 shares were sold for cash. Im also had $5,400,000 of 6% convertible bonds outstanding throughout the year. The bonds are convertible into 54,000 shares of common stock. Net income for the year was $365,000. The tax rate is 25%.
Required:
Compute basic and diluted earnings per share for the year ended December 31,2024.
Note: Round your answers to 2 decimal places.

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