Amy Dyken, controller at Sheffield Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and

diluted earnings per share and the related disclosure for Sheffield's financial statements. Below is selected financial information for

the fiscal year ended June $30,2025.$

Sheffield Pharmaceutical Industries

Selected Balance Sheet Information

June $30,2025$

Long$-$term debt

Notes payable, $10\%$

Shareholders' equity

Preferred stock, $5\%$ cumulative, $$50$ par value, $95,000$ shares authorized, $23,750$ shares issued and outstanding

The following transactions have also occurred at Sheffield.