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  3. the information below pertains to miami company fo

The information below pertains to Miami Company for 2025. Net income for the year...

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Accounting

The information below pertains to Miami Company for 2025.
Net income for the year
7% convertible bonds issued at par ( $1,000 per bond); each bond is convertible into
20 shares of common stock (issued in a prior year)
1,500,000
8% convertible, cumulative preferred stock, $100 par value; each share is convertible
into 5 shares of common stock (issued in a prior year)
Tax rate for 2025
Average market price of common stock
There were 1,000,000 shares of shares of common stock outstanding on 11?2025. On June 1,2025, the company
issued 120,000 common shares. There were no changes in the number of preferred shares, or convertible bonds
outstanding. There was no treasury stock. The company also has common stock options (granted in a prior year) to
purchase 100,500 shares of common stock at $25 per share.
Required:
Compute basic earnings per share for 2025.
Compute diluted earnings per share for 2025.
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