Computing EPS: Convertible Debt Excluding the convertible bonds, average common shares outstanding for the year were 1,616,000. - Note: In the following calculations, enter the earnings per share amounts in dollars and cents, rounded to the nearest penny. a. Compute basic EPS. b. Compute diluted EPS. c. How do the answers to parts a and b change if the bonds were issued on July 1 ? d. Ignoring part c, how do the answers to parts a and b change if one-half of the bonds were converted on July 1 ? Hint: First adjust net income to reflect six instead of twelve months of after-tax interest expense