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Exercise 19-25 (Algo) EPS; new shares; contingent agreements [LO19-6, 19-12] Anderson Steel Company began 2024...

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Exercise 19-25 (Algo) EPS; new shares; contingent agreements [LO19-6, 19-12] Anderson Steel Company began 2024 with 440,000 shares of common stock outstanding. - On March 31, 2024, 200,000 new shares were sold at a price of $40 per share. - The market price has risen steadily since that time to a high of $45 per share at December 31. - No other changes in shares occurred during 2024, and no securities are outstanding that can become common stock. - However, there are two agreements with officers of the company for future issuance of common stock. - Both agreements relate to compensation arrangements reached in 2023. - The first agreement grants to the company president a right to 20.000 shares of stock each year the closing market price is at least $43. - The agreement begins in 2025 and expires in 2028. - The second agreement grants to the controller a right to 25.000 shares of stock if she is still with the firm at the end of 2032. - Net income for 2024 was $3,000,000. Required: Compute Anderson Steel Company's basic and diluted earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10 )

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