$500,000 Calculating EPS and Multiple Securities At the end of 2020, the records of Wolverine Corporation reflected the following. Common stock, $10 par; authorized 100,000 shares: issued and outstanding throughout the year, 50,000 shares Preferred stock, $50 par, 7%, cumulative, convertible into common stock, share for share: authorized, 10,000 shares; issued and outstanding throughout year, 2,000 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 10,000 shares of common stock at $15 per share) Income tax rate, 2596 Average market price of the common stock during 2020, $25 per share 100,000 80,000 470,000 150,000 120,000 Required a. Is this a simple or a complex capital structure? Complex structure b. Compute the required EPS amounts. Note: Round earnings per share amounts to two decimal places. 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 $ 120,000 50,000 $ Diluted EPS $ 0 $ 2.4 0 0