Computing EPS: Convertible Preferred with Partial Conversion Bridgeman Company, headquartered in San Francisco, reported the following data for the current year. - Net income, $4,884,000. - Common shares outstanding at the beginning of the year, 1,600,000. - Nonconvertible cumulative preferred stock, $100 par, $8 dividend per share per year, 200,000 shares outstanding all year. - Issued 400,000 shares of common stock on October 1 . - Convertible cumulative preferred stock, \$100 par, \$7 dividend per share per year, 100,000 shares outstanding at the beginning of the year. On March 31,40,000 shares of preferred stock converted to 80,000 common shares. - For both preferred stock issues, assume dividends are paid for time held. 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