I'm having trouble calculating earnings per share for my final project. I don't know why this is confusing me so bad. I don't really want the answers - just a breakdown of how to get to what I need. I'm so frustrated!!

Preferred Dividends = $50,000

Common Dividends = $5,250,000

Preferred Stock - (10,000 authorized,

500,000.00

5,000 issued, 10%, $100 par value) =

Common Stock - (2,000,000 shares

1,750,000.00

authorized, 1,750,000 issued, $1 par)

Retained Earnings

9,076,904.85

This is what I need to calculate:

Net Income

12,428,782.26

Less: Preferred Dividends

(50,000.00)

Earnings Available to Common Shareholders

12,378,782.26

Common Shares Outstanding

Basic EPS

If all preferred shares are converted:

Net Income

12,428,782.26

Additional Common Shares

Common Shares Outstanding after conversion

EPS if preferred shares converted

Preferred shares are antidilutive

If all bonds are converted:

Net Income

12,428,782.26

Less: Preferred Dividends

Add back interest on bonds, net of income tax

Earnings Available to Common Shareholders

Additional Common Shares

Common Shares Outstanding after conversion

Fully diluted EPS