$400,000 Calculating EPS and Multiple Securities At the end of 2020, the records of Wolverine Corporation reflected the following. Common stock, $10 par, authorized 80,000 shares: issued and outstanding throughout the year, 40,000 shares Preferred stock, $50 par, 7%, cumulative, convertible into common stock, share for share; authorized 8,000 shares; issued and outstanding throughout year, 1,600 shares Contributed capital in excess of par, common stock Retained earnings (no dividends declared during the year) Bonds payable, 10% nonconvertible, issued at par in 2016 Net income Stock options outstanding (all year for 8,000 shares of common stock at $15 per share) Income tax rate, 25% Average market price of the common stock during 2020, $25 per share 80,000 64,000 376,000 120,000 84,000 Required a. Is this a simple or a complex capital structure? Complex structure b. Compute the required EPS amounts. Note: Enter the earnings per share amounts in dollars and cents, rounded to the nearest penny. Note: If an amount is not required, leave the answer blank (zero). Net Income Available to weighted Avg. Common Per Common Stockholders Shares Outstanding Share Basic EPS $ 78,400 40,000 1.96 Diluted EPS $ 78,400 0X $