The following information is available for Pharoah Inc., a company whose shares are traded on the Toronto Stock Exchange:

Other information:

$1.$ For all of the fiscal year $2023,\backslash (\backslash$$ $95,000\backslash )$ of $\backslash (6\backslash \%\backslash )$ cumulative convertible bonds have been outstanding. The bonds were issued at par and are convertible into a total of $9,600$ common shares $($adjusted for the stock dividend$),$ at the option of the holder, at any time after issuance.

$2.$ Call stock options for $19,900$ common shares have been outstanding for the entire $2023$ fiscal year and are exercisable at the option price of $\backslash (\backslash$$ $27\backslash )$ per share $($adjusted for the stock dividend$).$

$3.$ For all of the fiscal year $\backslash (2023,\backslash$$ $95,000\backslash )$ of $\backslash (4\backslash \%\backslash )$ cumulative convertible preferred shares have been outstanding. The preferred shares are convertible into a total of $14,000$ common shares $($adjusted for the stock dividend$)$ at the option of the holder at any time after January $2028.$ Determine the weighted average number of common shares that would be used in calculating earnings per share for the year ended December $31,2023.($Round answer to $0$ decimal places, e$.$g$.5,275.)$

Weighted average number of common shares

shares

Calculate the income effect of the dividends on preferred shares.

Dividends on preferred shares $\backslash (\backslash$$ $\backslash )$

Calculate basic earnings per share for $2023.($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Basic EPS $\backslash (\backslash$$ $\backslash )$

Determine an incremental per share effect for $\backslash (4\backslash \%\backslash )$ preferred shares. $($Round earnings per share to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Potentially dilutive security

$4\backslash \%$ Preferred shares

$\backslash$$

Incremental

Numerator Effect

Incremental

Denominator Effect

EPS Calculate the after$-$tax interest paid on the $\backslash (6\backslash \%\backslash )$ bonds.

After$-$tax interest on bonds converted

Determine an incremental per share effect for $\backslash (6\backslash \%\backslash )$ bonds. $($Round earnings per share to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Rank the potentially dilutive securities from most dilutive to least dilutive.

$4\backslash \%$ Preferred shares

$\backslash (6\backslash \%\backslash )$ Bonds

$19,900$ Stock Options Calculate diluted earnings per share for $2023.($Round earnings per share to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$