Problem 19-17 (Algo) EPS; options; convertible preferred; additional shares [LO19-4, 19-5, 19-6, 19-7, 19- 8, 19-9) On January 1, 2021, Tonge Industries had outstanding 520,000 common shares ($1 par) that originally sold for $25 per share, and 8,000 shares of 10% cumulative preferred stock ($100 par), convertible Into 80,000 common shares. On October 1, 2021, Tonge sold and issued an additional 16,000 shares of common stock at $41. At December 31, 2021, there were 24.000 Incentive stock options outstanding, issued in 2020, and exercisable after one year for 24,000 shares of common stock at an exercise price of $38. The market price of the common stock at year-end was $56. During the year, the price of the common shares had averaged $48. Net Income was $660,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2021. (Round "Earnings per share" answers to 2 decimal places. Enter your answers in thousands.) Numerator 1 $ 5501 S 800 1 Denominator 463 Basic Earnings per share S 1.37 S 1.33 Diluted 779