Question: On December 3 1 , 2 0 2 3 , Brisbane Company had 1 0 0 , 0 0 0 shares of common stock outstanding

On December 31,2023, Brisbane Company had 100,000 shares of common stock outstanding and 40,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28,2024, Brisbane purchased 34,000 shares of common stock on the open market as treasury stock paying $50 per share. Brisbane sold 7,000 treasury shares on September 30,2024, for $55 per share. Net income for 2024 was $190,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 60,000 common shares at $50. The market price of the common shares averaged $60 during 2024. Compute the Basic and diluted earnings for 2024.

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