The following information pertains to Apex Company's outstanding stock for 2024: Preterrea stock, \$100 par, 1% cumulatve Shares outstanding, 1/1/2024 4,000 What is the number of shares Apex should use to calculate 2024 basic earnings per share? 11) A) 20,000 B) 22,500 C) 25,000 D) 27,000 At December 31, 2024 and 2023, Pedro Company had 118,000 shares of common stock and 6,800 shares of 5%,$100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2024 or 2023. Net income for 2024 was $680,000. For 2024 , basic earnings per share was: 12) A) $3.40. B) $5.18. C) $5.47. D) $4.34