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Gorilla Glue Company reported Net Income of $15,900 for 2017. Assuming a tax rate of 30% and the following detail regarding their capital structure, calculate

Gorilla Glue Company reported Net Income of $15,900 for 2017. Assuming a tax rate of 30% and the following detail regarding their capital structure, calculate both Basic & Diluted EPS for 2017.

1) 9.0%, $100 par convertible preferred stock: $10,000 outstanding for the entire year. Each share can be converted into 4 shares of common stock.

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