TB Problem $19-188($Static$)$ On December $31,2023,$ Bae Company had...

On December $31,2023,$ Bae Company had outstanding $400,000$ shares of common stock and $40,000$ shares of $8\%c$ preferred stock $($par $$10).$ The preferred stock was corvertible into $30,000$ shares of common stock. On February $28,$ an additional $36,000$ shares of common stock. A $10\%$ stock dividend was declared and distributed on July $1,2024.$ On $2024,9,000$ shares were retired. At year$-$end, there were fully vested incentive stock options outstanding for $30,000$ common stock $($adjusted for the stock dividend$).$ The exercise price was $$18.$ The market price of the common stock ay during the year. Also outstanding were $$1,000,000$ face amount of $10\%$ convertible bonds issued in $2021$ and convert: common shares $($adjusted for the stock dividend$).$ Net income was $$900,000.$ The tax rate for the year was $25\%.$