nformation from the financial statements of Park-Rao Industries included the following at December 31, 2024: Common shares outstanding throughout the year 100 million Convertible preferred shares (convertible into 20 million shares of common) 70 million Convertible 8% bonds (convertible into 19.0 million shares of common) $ 2,700 million Park-Raos net income for the year ended December 31, 2024, is $940 million. The income tax rate is 25%. Park-Raos paid dividends of $2 per share on its preferred stock during 2024. Required: Compute basic and diluted earnings per share for the year ended December 31, 2024.