Problem 19-14 (Static) EPS; convertible preferred stock; convertible bonds; order of entry [LO19-7, 19-9, 19-10] Information from the financial statements of Park-Rao Industries included the following at December 31, 2024: Common shares outstanding throughout the year Convertible preferred shares (convertible into 32 million shares of common) Convertible 8% bonds (convertible into 13.5 million shares of common) 100 million 60 million $ 900 million Park-Rao's net income for the year ended December 31, 2024, is $520 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. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. Answer is complete but not entirely correct. Numerator Basic $ 400 Diluted $ 520 + Denominator 100 = EA $ 146 = $ Earnings per share 4.00 3.12 X