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  3. on january 1,2024, jaewoo industries had outstandi

On January 1,2024, Jaewoo Industries had outstanding 500,000 common shares ( $1 par) that originally...

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Accounting

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On January 1,2024, Jaewoo Industries had outstanding 500,000 common shares ( $1 par) that originally sold for $20 per share, and 7,000 shares of 10% cumulative preferred stock ( $100 par), convertible into 70,000 common shares. - On October 1,2024, Jaewoo sold and issued an additional 12,000 shares of common stock at $39. - At December 31,2024 , there were 23,000 incentive stock options outstanding. issued in 2023 , and exercisable after one year for 23,000 shares of common stock at an exerclse price of $36. - The market price of the common stock at year-end was $54. - During the year, the price of the common shares had averaged $46. - Net income was $640,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places

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