Aria Ltd$.$ provides the following information for calendar $2023$:

Net income

Capital Structure

a$)$ $$8$ preferred shares, no par value, cumulative,

$6,000$ shares outstanding

No dividends were declared during $2023.$

b$)$ Common shares, $76,000$ shares outstanding on January $1.$

On April $1,40,000$ shares were issued for cash.

On October $1,16,000$ shares were purchased and retired.

$$1,000,000$

c$)$ On January $2,2022,$ Aria purchased Apso Corporation.

One of the terms of the purchase was that if Aria's net income for $2022$ or subsequent

years is $$400,000$ or more, $50,000$ additional common shares would be issued to Apso

shareholders.

Instructions

Calculate basic and diluted earnings per share for $2023.$