Amy Dyken, controller at Ayayai Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Ayayal's financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Ayayai Pharmaceutical Industries Selected Balance Sheet Information June 30, 2020 Long-term debt Notes payable, 10% $1,020,000 9% convertible bonds payable 4.970,000 10% bonds payable 5,980,000 Total long-term debt $11.970,000 Shareholders' equity Preferred stock. 5% cumulative, $50 par value, 95,000 shares authorized 23,750 shares issued and outstanding Common stock, S1 par, 9,900,000 shares authorized, 990,000 shares issued and outstanding Additional paid-in capital Retained earnings Total shareholders equity $1.187.500 990,000 4,050,000 5.900,000 $12,127,500 The following transactions have also occurred at Ayayal. Options were granted on July 1, 2019. to purchase 220,000 shares at $14 per share. Although no options were exercised during fiscal year 2020, the average price per common share during hiscal year 2020 was $20 per share. 1. Amy Dyken, controller at Ayayai Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Ayayal's financial statements. Below is selected financial information for the fiscal year ended June 30, 2020. Ayayai Pharmaceutical Industries Selected Balance Sheet Information June 30, 2020 Long-term debt Notes payable, 10% $1,020,000 9% convertible bonds payable 4.970,000 10% bonds payable 5,980,000 Total long-term debt $11.970,000 Shareholders' equity Preferred stock. 5% cumulative, $50 par value, 95,000 shares authorized 23,750 shares issued and outstanding Common stock, S1 par, 9,900,000 shares authorized, 990,000 shares issued and outstanding Additional paid-in capital Retained earnings Total shareholders equity $1.187.500 990,000 4,050,000 5.900,000 $12,127,500 The following transactions have also occurred at Ayayal. Options were granted on July 1, 2019. to purchase 220,000 shares at $14 per share. Although no options were exercised during fiscal year 2020, the average price per common share during hiscal year 2020 was $20 per share. 1