Net income =$2,150,000 Convertible preferred dividends =$210,000 Convertible preferred shares outstanding =10 Dividends paid to common shareholders =$1 Each preferred converts into 2 shares of com Weighted average number of common shares 24. Zulu Corp's basic EPS is closest to: a. $2.15 b. $2.42 c. $2.48 25. Zulu Corp's diluted EPS is closest to: a. $2.15 b. $2.42 C. $2.48