On June $1,2023,$ Blue Company and Kingbird Company merged to form Oriole Inc. A total of $757,000$ shares were issued to compiete the merger. The new corporation reports on a calendar$-$year basis.

On April $1,2025,$ the company issued an additional $628,000$ shares of stock for cash. All $1,385,000$ shares were outstanding on December $31,2025.$

Oriole Inc. also issued $$600,000$ of $20-$year, $8\%$ convertible bonds at par on July $1,2025.$ Each $$1,000$ bond converts to $42$ shares of common at any interest date. None of the bonds have been converted to date.

Oriole Inc. is preparing its annual report for the fiscal year ending December $31,2025.$ The annual report will show earnings per share figures based upon a reported after$-$tax net income of $$1,545,000.($The tax rate is $20\%.)$