Question 24-27 Assume the following data relative to ABC Corporation for 2016 is available: Net Income $1,400,000 Transactions in common shares: Jan 1, 2016 Beginning number: March 1, 2016 Purchased treasury shares 500,000 June 1,2016 Stock split 2 for 1 60,000 Nov 1, 2016 Issuance of new shares 120,000 8% Cumulative Preferred Stock Sold at par, convertible into 200,000 shares as adjusted for stock split $1,000,000 Stock Options-60.000 options Exercisable at the option price of S25 per share. $30 average market price in 2016, $20 year end market price market price and option price adjusted for stock split) 24. In computing Basic EPS what are the weighted shares outstanding: a. 726,667 b 1,000,000 c. 920,000 d. 760,000 25. In computing Diluted EPS what are the weighted shares outstanding: a. 930,000 b. 1,130,000 c. 1,120,000 d. 1,400,000 26. In computing Diluted EPS if preferred stock is converted into common stock what is its impact on per share basis? a. .40 b. .80 c. 1.20 d. .60 27. What is Diluted EPS per share? a. 1.43 b. 1.57 c. 1.17 d. 1.24