(10 points) Scenario 1: Mulcahy Corporation is a privately held company with a December 31st year end. Mulcahy Corporation has a complex capital structure and must present Basic EPS and Diluted EPS. In preparing its calculations for Basic and Diluted EPS for the year ending December 31st, 2020 were as follows: Basic EPS: Diluted EPS: $4.52 $4.54 The calculations for Basic and Diluted EPS are mathematically correct and include all of the required elements. Accounting Issue: Can Mulcahy present Diluted EPS when it is greater than Basic EPS? a. GAAP Codification Reference: | b. Guidance: (cut and paste the guidance) c. Your interpretation of the guidance? What is the correct amount of Diluted EPS ?