SHERIDAN LIMITED

Selected Statement of Financial Position Information

At December $31,2023$

Notes and Assumptions

December $31,2023$

$1.$ Options were granted$/$written in $2022$ that give the holder the right to purchase $110,000$ common shares at $\backslash (\backslash$$ $8\backslash )$ per The average market price of the company's common shares during $2023$ was $\backslash (\backslash$$ $16\backslash )$ per share. The options expire in $26$ no options were exercised in $2023.$

$2.$ The $\backslash (4\backslash \%\backslash )$ bonds were issued in $2022$ at face value. The $\backslash (6\backslash \%\backslash )$ bonds were issued on June $1,2023,$ at face value. Each bond has a face value of $\backslash (\backslash$$ $1,000\backslash )$ and is convertible into $100$ common shares.

$3.$ The convertible preferred shares were issued at the beginning of $2023.$ Each preferred share is convertible into one common share.

$4.$ The average income tax rate is $\backslash (25\backslash \%\backslash ).$

$5.$ The common shares were outstanding during the entire year.

$6.$ Preferred dividends were not declared in $2023.$

$7.$ Net income was $\backslash (\backslash$$ $2,533,000\backslash )$ in $2023.$

$8.$ No bonds or preferred shares were converted during $2023.$

Calculate diluted earnings per share for $2023.($Round earnings per shore to $2$ decimal ploces, es$.15\mathrm{.}25.)$