Work Assignment $6$

Intermediate Corporation earmed $$46,240,250$ in calendar $($and fiscal$)$ year $2024.$ The company has the following Stockholders' Equity Section as of January $1,2024$ :

$\backslash$table$[[$Comman Sack $$1$ par, $2$ billien shares authorited,$],[40,000,000$ issoed and $39,500,000$ outstanding,$$200,000,000],[$Preferred Sack $$100$pat,$2$mminsh shares authorized,$],[100,000$ is sued and outstanding,$10,000,000],[$Paid$-$in Capital in Excess of Par $-$ Common,$100,000,000],[$Pald$-$in Capital in Excestu of Par $-$ Preferred,$5,000,000],[$Paid$-$in Capital from TreasorySask,$500\mathrm{.}000],[$Aetained Earnings,$14,252,000],[$Acoumulated Other Comprehensive lincsme,$-1,452,000],[$Treasury Sapck,$-2,500,000],[$Total Seockheldess' Equity,$$385,800,000]]$

During the year, the following stock transactions occurred:

On January $1,2024,$ Intermediate Corporation sold $10,000,000$ shares of $$1$ par value common stock, raising $$50,000,000$ in cash. The company incurred share issuance costs of $$0\mathrm{.}20$ per share in connection with this transaction.

On March $1,2024,$ the company issued an additional $100\mathrm{.}000$ shares of $5\%,$$$100$ par value preferred stock for $$12,000,000$ in cash.

On July $1,2024,$ Intermediate Comporation received land appraised at $$5,000,000$ in exchange for $1,000,000$ shares of common stock.

On October $1,2024,$ the company sold a combination of $1,000,000$ shares of common stock and $100,000$ shares of preferred stock for a total of $$12,000,000$ in cash. At the time of this transaction, the market value was $$7$ per share for common stock and $$104$ per share for preferned stock.

On November $1,2024,$ the company reputchased $500,000$ shares of is common stock for $$8$ per share. On December $1,2024,$ the firm sold $200,000$ of these shares for $$10$ per share and on December $14,2024,$ another $100,000$ shares were sold for $$6$ per share. The rest were retired on December $31,2024.$

The firm has $6\%$ convertble bonds with $$100,000,000$ in face value. Every $$1,000$ bond can be turned in for $10$ shares of common stock. The preferred stock can also be converted into common stock. Each preferred share can be turned in for $10$ shares of common stock. Stock options are outstanding and could potentially be turned in to purchase $500,000$ shares of common stock for $$8$ per share. The market price of the common shares are $$11$ at December $31,2024.$

Your job is to calculate the firm's basic and diuted eamings per share for $2024,$ clearly showing alt computations and justrifing your final numbers.