The following information pertains to A. P. Hutton Company's outstanding stock for 2024 : What is the number of shares A. P. Hutton should use to calculate 2024 basic earnings per share? Muttiple Choice 29,000 31,950 What is the number of shares A. P. Hutton should use to calculote 2024 basic earnings per shore? Multiple Choice 29.000 31,950 34,900 37.350 On December 31, 2023, Chi Chow Company had outstanding 500,000 shares of common stock and 50,000 shares of 8% cumulative preferred stock (par $10 ). - February 28.2024. issued an additional 46,000 shares of common stock - September 1, 2024, 10,000 shares were retired. - A 12% stock dividend was declared and distributed on July 1, 2024. - At yeaf-end, there were fully vested incentlve stock options outstanding for 40,000 shares of common stock (adjusted for the stock dividend). The exercise price was $18. The market price of the common stock averaged $20 during the yeat. Also: outstanding were $1,000,000 face amount of 10% convertible bonds issued in 2021 and convertible into 60,000 common shares (adjusted for the stock dividend). Net income was $1,000,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. Note: Round your answers to 2 decimal places