M8-31. Calculating and Interpreting EPS Information Wells Fargo reports the following information in its Form 10-K. 2018 2017 In millions Wells Fargo net income . Preferred stock dividends. Common stock dividends. Average common shares outstanding Diluted average common shares outstanding $22,393 $ 1,556 $ 7,955 $22,183 $ 1,629 $ 7,708 4,799.7 4,838.4 4,964.6 5,017.3 a. Determine Wells Fargo's basic EPS for fiscal 2018 and for fiscal 2017. b. Compare the number of common shares outstanding used for the 2018 Basic and Diluted EPS ratios. Provide three examples that explain why the two numbers differ