I. On January 1, 20x1, Wilk Corp. had 480,000 shares of common stock outstanding. During 20x1, it had the following transactions that affected the common stock account.

2/1 Issued 120,000 shares

3/1 Declared and distributed a 10% stock dividend

5/1 Acquired 100,000 shares of treasury stock

6/1 Issued a 3-for-1 stock split

10/1 Reissued 60,000 shares of treasury stock

Wilke Corp. earned net income of $3,456,000 during 20x1. In addition, it had 100,000 of shares of 9%, $100 par nonconvertible, cumulative preferred stock outstanding for the entire year. Because of liquidity considerations, the company did not declare and pay a preferred dividend in 20x1.

Compute EPS for 20x1.

II. Venz Companys net income for 20x1 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issued during 20x0, each exercisable for one share at $6. None has been exercised, and 10,000 shares of common were outstanding during 20x1. The average market price of Venzs stock during 20x1 was $20.

Compute diluted EPS for 20x1.