Question 7 of 7 View Policies Current Attempt in Progress Amy Dyken, controller at Bramble Pharmaceutical Industries, a public company, is currently preparing the calculation for basic and diluted earnings per share and the related disclosure for Bramble's financial statements. Below is selected financial information for the fiscal year ended June 30, 2025. Bramble Pharmaceutical Industries Selected Balance Sheet Information June 30.2025 Long-term debt Notes payable, 9% 8% convertible bonds payable 9% bonds payable Totallong-term debt Shareholders' equity Preferred stock, 6% cumulative, 550 par value, 103,000 shares authorized, 25,750 shares issued and outstanding Common stock.\$1 par, 9,900,000 shares authorized, 990,000 shares issued and outstanding Additional paid-in capital Retained earnings Total shareholders' equity $1,000,000 5,060,000 5,900,000 $11,960,000 $1,287,500 990,000 4,070,000 6.060 .000 $12,407,500 The following transactions have also occurred at Bramble. 1 Optionswere granted on July 1,2024, to purchase 200,000 shares at $15 per share. Althoughno options were exercised during fiscal year 2025 , the average price per common share during fiscal year 2025 was $20 per share. 2. Each bond was issued at face value. The 8% convertible bonds will convert into common stock at 50 shares per $1,000 bond. The bonds are exercisable after 5 years and were issued in fiscal year 2024 3. The preferred stock was issued in 2024 . 4. There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year 2025. 5. The 990.000 shares of common stock were outstanding for the entice 2025 fiscal year. The following transactions have also occurred at Bramble. 1. Options were granted on July 1,2024, to purchase 200,000 shares at $15 per share. Although no options were exercised during fiscal year 2025 , the average price per common share during fiscal year 2025 was $20 per share. 2. Each bond was issued at face value. The 8% convertible bonds will comvert into common stock at 50 shares per $1.000 bond. The bonds are exercisable after 5 vears and were issued in fiscal year 2024. 3. The preferred stock was iswed in 2024 4. There are no preferred dividends in arrears, however, preferred dividends were not declared in fiscal year 2025. 5. The 990,000 shares of common stock were outstanding for the entire 2025 fiscal year. 6. Net incoene for fiscal year 2025 was $1,480,000, and the average income tax rate is 20%. For the fiscal yoar ended June 30, 2025, calculate the following for Brambie Pharmaceutical Industries. (Round answers to 2 decimal places. e.s. 2.45.) 2. Basic earnings per share. Basic earnings per share b. Diluted earnings per shave
