The following transactions have also occurred at Blossom. Options were granted on July 1, 2024, to purchase 220,000 shares at $14 per share. Although no options were exercised during fiscal year 2025, the average price per common share during fiscal year 2025 was $20 per share. 1. 2. 3. 4₁ 5. 6. Each bond was issued at face value. The 8% convertible bonds will convert into common stock at 50 shares per $1,000 bond. The bonds are exercisable after 5 years and were issued in fiscal year 2024. The preferred stock was issued in 2024. There are no preferred dividends in arrears; however, preferred dividends were not declared in fiscal year 2025. The 1,020,000 shares of common stock were outstanding for the entire 2025 fiscal year. Net income for fiscal year 2025 was $1,490,000, and the average income tax rate is 20%. For the fiscal year ended June 30, 2025, calculate the following for Blossom Pharmaceutical Industries. (Round answers to 2 decimal places, e.g. 2.45.) a. Basic earnings per share. Basic earnings per share $ b. Diluted earnings per share. Diluted earnings per share 1.46 1.17

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