Net Income $12,501,107.50 Less: Preferred Dividends 50,000.00 Earnings Available to Common Shareholders Common Shares Outstanding 1,750,000.00 250,000.00 Basic EPS $ 7.11 If all preferred shares are converted: Net Income 12,501,107.50 Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive If all bonds are converted: Net Income 12,501,107.50 Less: Preferred Dividends 50,000.00 Add back interest on bonds, net of income tax Earnings Available to Common Shareholders Additional Common Shares Net Income $12,501,107.50 Less: Preferred Dividends 50,000.00 Earnings Available to Common Shareholders Common Shares Outstanding 1,750,000.00 250,000.00 Basic EPS $ 7.11 If all preferred shares are converted: Net Income 12,501,107.50 Additional Common Shares Common Shares Outstanding after conversion EPS if preferred shares converted Preferred shares are antidilutive If all bonds are converted: Net Income 12,501,107.50 Less: Preferred Dividends 50,000.00 Add back interest on bonds, net of income tax Earnings Available to Common Shareholders Additional Common Shares