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need help for tonight!! 3 On June 1,2021, Gustay Corp. and Gabby timited merged to form Carla Vista inc. A total of 680.000 shares were
need help for tonight!! 3 On June 1,2021, Gustay Corp. and Gabby timited merged to form Carla Vista inc. A total of 680.000 shares were issued to complete the merger the new corporation uses the calendaryear as its fiscal vear: On April 1, 2023, the compary issued an additional 340,000 shores for cosh, All 1.02 millipen shares were outstanding an December 31. 2023. Carls Vista akso issued $510,000 of 20 year, 10% convertible bonds at par-on Luly 1,2023 , Each $1,000 bond corverts to 45 common shares at the annual interest date. None of the bonds have been comverted to date if the bonds had been issued without the comersion foature, the annual interest rote would have been 11% Carla Vota is preparing its annual financial statements for the fiscal year ended December 31,2023 . The financial statements will show earnings per share figures based on a reported after tax net income of $1,600,000. (The tax rate is 30K.) (a) 2. Your answer is incorrect Determine for 2023 the number of shares to be used in calculating 1 . Basic earnings per shore, 2. Diluted earnings per sharo. 1. Number of shares for busic earningo per share 2. Number of shares for diluted earnings per share shares shares
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