Notes:

Convertible preferred shares were issued on January $1.$

Additional common shares were issued on September $1.$

Common shares were reacquired on April $1.$

Dividends were paid to cumulative preferred shareholders.

Average price of the common shares was $$28$ per share.

$($a$)$

V Your answer is correct.

Calculate the basic earnings per share. $($Round answer to $2$ decimal places, e$.$g$.5\mathrm{.}75.)$

Basic EPS $

$($b$)$

X Your answer is incorrect.

Calculate the following. $($Round per share answer to $2$ decimal places, e$.$g$.5\mathrm{.}75.)$

Diluted net income available to common shareholders $

Diluted weighted average number of shares outstanding

shares

Diluted earnings per shareNova Gold Miners $($NGM$)$ is a gold mining company. NGM currently has two mines operating in Northwestern Ontario and many

exploration claims throughout Ontario and Quebec.

The company is publicly listed on the Toronto Venture Exchange. NGM is hoping to attract new capital in the coming months and

would like to show strong financial performance for its most recent fiscal year end $($December $31,2023).$ Analysts are focusing on the

current year's earnings per share in assessing future growth prospects. The company's shares are currently trading at $$28$ per share.

You work in NGM$\text{'}$s accounting department and have been assigned to help the CFO prepare preliminary estimates of EPS. You are

given the following summarized financial information.

The company's summarized statement of financial position for non$-$current liabilities and shareholders' equity follows:

The company has the following summarized statement of operations:

The company has the following summarized statement of changes in equity: