5:21 Ch198 HW LIE Saved Help Save & Exit Submit 10 10 points eBook References Problem 19-17 (Algo) EPS; options; convertible preferred; additional shares (LO19-4, 19-5, 19-6, 19-7, 19-8, 19-9] On January 1, 2021, Tonge Industries had outstanding 680,000 common shares ($1 par) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock ($100 par), convertible into 40,000 common shares. On October 1, 2021, Tonge sold and issued an additional 20,000 shares of common stock at $35. At December 31, 2021, there were 21,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 21,000 shares of common stock at an exercise price of $32. The market price of the common stock at year-end was $50. During the year, the price of the common shares had averaged $42. Net income was $820,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2021. (Enter your answers in thousands (i.e., 100,000 should be entered as 100). Round "Earnings per share" answers to 2 decimal places.) Numerator Basic Diluted Mc Graw Hill < Prev 10 of 10 Denominator # Next > Earnings per share