Do not give answer in image formate 1Basic and Diluted Earnings Per Share23 Bloodhound Corp. provides the following data for calendar 20234 Net Income$2,400,0005678Transactions in Common Shares1-Jan beginning1-Mar purchase of treasury shares1-Jun shares split 2 for 11-Novissuance of new shares910118% Cumulative Convertible Preferred Shares (no par)12 Convertible into 200,000 common shares13adjusted for split on June 11415 Stock Options16 Exercisable at the option price of $25 per share.17 Average market price in 2023 was $30 (market price18 and option price adjusted for split).1920 Required (show all your calculations)212223a)b)60,000 sharesChange Cumulative1,000,000940,000-60,000940,000 1,880,000120,0002,000,000$1,000,000Calculate basic earnings per share for 2023.Calculate diluted earnings per share for 2023.

Potential common shares refer to shares of a company's stock that have the potential to be issued…

Basic and Dilated Earnings Per Share Bloodhound Corp. provides the following data for calendar 2023 Net Income $2,400,000 Transactions in Common Shares 1-Jan beginning 1-Mar purchase of treasury shares 1-Jun shares split 2 for 1 1-Novissuance of new shares D 8% Cumulative Convertible Preferred Shares (no par) Convertible into 200,000 common shares adjusted for split on June 1 2 3 4 5 Stock Options 6 Exercisable at the option price of $25 per share. Average market price in 2023 was $30 (market price 8 and option price adjusted for split). 7 9 20 Required (show all your calculations) 21 2 23 a) b) 60,000 shares Change -60,000 940,000 120,000 Cumulative $1,000,000 Calculate basic earnings per share for 2023. Calculate diluted earnings per share for 2023. 1,000,000 940,000 1,880,000 2,000,000