An excerpt from the statement of financial position of Cullumber Limited follows:

CULLUMBER LIMITED

Selected Statement of Financial Position Information

At December $31,2023$

Shareholders' equity

$$0\mathrm{.}68$ cumulative, no par value, convertible preferred shares

$($unlimited number of shares authorized, $620,000$ shares

issued and outstanding$)$ $$3,100,000$

Common shares, no par value shares authorized,

Notes and Assumptions

December $31,2023$

Options were granted$/$written in $2022$ that give the holder the right to purchase $100,000$ common shares at $$9$ per share.

The average market price of the company's common shares during $2023$ was $$16$ per share. The options expire in $2031$ and

no options were exercised in $2023.$

The $4\%$ bonds were issued in $2022$ at face value. The $6\%$ bonds were issued on June $1,2023,$ at face value. Each bond has a

face value of $$1,000$ and is convertible into $100$ common shares.

The convertible preferred shares were issued at the beginning of $2023.$ Each preferred share is convertible into one common

share.

The average income tax rate is $25\%.$

The common shares were outstanding during the entire year.

Preferred dividends were not declared in $2023.$

Net income was $$2,486,600$ in $2023.$

No bonds or preferred shares were converted during $2023.$

Calculate the income effect of the dividends on preferred shares. Calculate basic earnings per share for $2023.($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Basic EPS $

eTextbook and Media

Determine an incremental per share effect for $$0\mathrm{.}68$ preferred shares. $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Calculate the proceeds from assumed exercise of $100,000$ options. $($Round answer to $0$ decimal places, e$.$g$.1,525.)$

Proceeds from exercise of options $

Calculate the incremental shares oustanding upon the exercise of options. $($Round answer to $0$ decimal places, e$.$g$.1,525.)$

The incremental shares oustanding upon the exercise of options

eTextbook and Media

Calculate the after$-$tax interest paid on the $4\%$ bonds.

After$-$tax interest on $4\%$ bonds converted $

eTextbook and Media

Determine an incremental per share effect for $4\%$ bonds. $($Round earnings per share to $2$ decimal places, e g$.15\mathrm{.}25.)$ Calculate the after$-$tax interest paid on the $6\%$ bonds.

After$-$tax interest on $6\%$ bonds converted

eTextbook and Media

Determine an incremental per share effect for $6\%$ bonds. $($Round earnings per share to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Rank the potentially dilutive securities from most dilutive to least dilutive.

$4\%$ Bonds

$6\%$ Bonds

$$0\mathrm{.}68$ Preferred shares

Options Calculate diluted earnings per share for $2023.($Round earnings per share to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$