Calculate earning per share step by step.

4. Details about shareholders' equity and dilutive securities: i. The company issued 120,000 common shares on January 2, 2023, the date of its incorporation. Another 420,000 common shares were issued on April 30, 2023 and 180,000 shares were issued on September 1,2023. ii. 50,000 warrants were issued on June 30,2023 for $20 per warrant. Each warrant permits the owner to purchase two common shares of BWCC for $40 per share any time before December 31, 2025. iii. Options were issued at no cost to employees on August 31, 2023, permitted the holders to purchase 40,000 common shares for $60 per share any time before December 31, 2026. iv. On March 31, 2023 the company issued $10,000,000,6%, convertible bonds at par value. Each $1,000 bond is convertible into 20 common shares. v. The average market value of the common shares in 2023 was $100 per share. vi. No dilutive securities were converted into common shares during 2023. vii. The journal entries for items (4i2iv. ) has been done correctly. 5. The company's income tax rate for 2023 is 15%. The income tax expense on the preliminary income statement was calculated by multiplying the income before tax amount by 15% APPENDIX 3 - EARNINGS PER SHARE