Long$-$term debt

Notes payable, $9\%$

Shareholders' equity

The following transactions have also occurred at Wildhorse.

Options were granted on July $1,2024,$ to purchase $220,000$ shares at $$16$ per share. Although no options were exercised

during fiscal year $2025,$ the average price per common share during fiscal year $2025$ was $$20$ per share.

Each bond was issued at face value. The $8\%$ convertible bonds will convert into common stock at $50$ shares per $$1,000$ bond.

The bonds are exercisable after $5$ years and were issued in fiscal year $2024.$

The preferred stock was issued in $2024.$

There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year $2025.$

The $980,000$ shares of common stock were outstanding for the entire $2025$ fiscal year.

Net income for fiscal year $2025$ was $$1,510,000,$ and the average income tax rate is $20\%.$

For the fiscal year ended June $30,2025,$ calculate the following for Wildhorse Pharmaceutical Industries. $($Round answers to $2$ decimal

places, e$.$g$.2\mathrm{.}45.)$

a$.$ Basic earnings per share.

Basic earnings per share

b$.$ Diluted earnings per share.

Diluted earnings per share