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Problem 2 The 2015 balance sheet and other information for Brisco Corporation revealed the following information: *Common stock, $10 par, 50,000 shares issued and outstanding as of January 1, 2015. *Preferred stock, $100 par, 6% cumulative, 1,000 shares issued and outstanding as of January 1, 2015 and December 31, 2015. Stock transactions during 2015 consisted of the following: March 1: Issued 10,000 shares of common stock for cash. April 1: Purchased 2,000 shares of common stock as treasury stock. August 1: Reissued 1,000 shares of treasury stock for cash. September 1: Declared and issued a 50 percent stock dividend on common stock. Required: Calculate the weighted average number of common shares of stock outstanding that should be used to calculate EPS for the 2015 income statement. Problem 3 Hanson Company reported net income of $44,000 for 2015. The company has 10,000 shares of common stock and no preferred stock. During 2014 the company issued $400,000 of 8 percent convertible bonds at face value. Each 1,000 bond can be converted into 24 shares of common stock. No bonds were converted during the year. The company's tax rate is 30 percent. No additional stock was issued during 2015. Required: 1. Calculate Hanson's s basic EPS. 2. Calculate Hanson's diluted EPS. 3. In what way would your diluted EPS calculation differ if Hanson had issued convertible preferred stock instead of convertible bonds