The Brown Company provides restricted stock to certain executives. Under the plan, the company granted $30$ million shares on January $1,2024,$ which vest in four years. The fair value of the shares is $$14\mathrm{.}70.$ No forfeitures are anticipated. Ignore taxes.

Required:

Determine the total compensation cost pertaining to the restricted stock.

Prepare the appropriate journal entry $($if any$)$ to record the award of restricted stock on January $1,2024.$

Prepare the appropriate journal entry $($if any$)$ to record compensation expense on December $31,2024.$

Brown Company had $100,000$ shares of common stock outstanding on January $1,2024.$ On September $30,2024,$ Brown sold $53,000$ shares of common stock for cash. Brown also had $12,500$ shares of convertible preferred stock outstanding throughout $2024.$ The preferred stock is $$100$ par, $6\%,$ and is convertible into $3$ shares of common for each share of preferred. Brown also had $550,8\%,$ convertible bonds outstanding throughout $2024.$ Each $$1,000$ bond is convertible into $30$ shares of common stock. The bonds sold originally at face value. Reported net income for $2024$ was $$350,000$ with a $40\%$ tax rate. Common shareholders received $$2\mathrm{.}50$ per share dividends after preferred dividends were paid in $2024.$

Compute basic and diluted earnings per share for $2024.$