What would the basic and diluted earnings per share for XYZ for 2024 be?

1. On January 1, 2024, XYZ Company had 200,000 shares of $0.25 par common stock outstanding. On May 1, 2024, XYZ sold 30,000 shares of common stock for $56 per share. XYZ had the following preferred stock and bonds outstanding on January 1, 2024. All securities had been sold at par or face value. Issue Date 5/1/2021 Type of Security 12%, $1,000 bonds, $750,000 1/1/2022 1/1/2023 6% cumulative convertible preferred stock, $100 par, 40,000 shares outstanding 6%, convertible $1,000 bonds, $1,000,000 6/30/2023 10%, convertible $1,000 bonds, $600,000 12/31/2023 8%, cumulative preferred stock, $50 par, 12,500 shares outstanding Conversion Terms None 4 shares common for each share of preferred 15 shares common for each $1,000 bond 30 shares of common for each $1,000 bond None XYZ had stock options outstanding on January 1, 2024, for the purchase of 20,000 shares of common stock for $30 per share. On October 1, 2024, options were granted for the purchase of an additional 40,000 shares at $45 per share. The average market price of the common stock for 2024 was $60 per share. XYZ paid no dividends during 2024. The 2024 net income was $1,026,000. The income tax rate is 30%.