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Shareholders equity Preferred stock, 6% cumulative, $50 par value, 105,000 shares authorized, 26,250 shares issued and outstanding $1,312,500 Common stock, $1 par, 9,800,000 shares authorized,

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Shareholders equity Preferred stock, 6% cumulative, $50 par value, 105,000 shares authorized, 26,250 shares issued and outstanding $1,312,500 Common stock, $1 par, 9,800,000 shares authorized, 980,000 shares issued and outstanding $12.010000 Additional paid-in capital Retained earnings 3,940,000 Total shareholders'equity 5,910,000 $12142.500 The following transactions have also occurred at Pina. The following transactions have also occurred at Pina. 1. Options were granted on July 1,2019, to purchase 200,000 shares at $15 per share. Although no options were exercised during fiscal year 2020 , the average price per commen share during fiscal year 2020 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 2019. 3. The preferred stock was issued in 2019. 4. There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year 2020. 5. The 980,000 shares of common stock were outstanding for the entire 2020 fiscal year. 6. Net income for fiscal year 2020 was $1,520.000, and the werage income tax rate is 20%. For the fiscal year ended June 30, 2020, calculate the following for Pina Pharmaceutical Industries, (Round answers to 2 decimal places, e. $2.45. (a) Basic earnings per share. Basic earnings per share 5. The 980,000 shares of common stock were outstanding for the entire 2020 fiscal year. 6. Net income for fiscal year 2020 was $1,520,000, and the average income tax rate is 20%. For the fiscal year ended June 30.2020, calculate the following for Pina Pharmaceutical Industries. (Round answers to 2 decimal places, eg. \$2.45.) (a) Basic earnings per share. Basic earnings per share $ (b) Diluted earnings per share. Diluted earnings per share

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