On 1/1/2020, Sam Cuts, Inc. had 5,000,000 Common Stock and 250,000 $90 15% Convertible Cumulative Preferred Stock issued and outstanding. Conversion ratio is 5.6:1. Net income of $15,000,000 was reported for the year. Effective income tax rate is 21%. There were no new issue or repurchase of Common Stock and Average Price was $20 in 2020. No dividends were declared for the year. On 2/1/2021, a 3 for 1 Stock Split was declared by the Board of Directors. 100,000 6% $1,000 Convertible Bonds were issued on 4/1/2020 with a conversion ratio of 53:1. 500,000 7% $1,000 Non-Convertible Bonds were issued on 7/1/2020. For the year, there are 2,000 employee stock option and 10,000 institutional put option with strike prices of $18 and $25, respectively.

Compute the a) Basic EPS and b) Diluted EPS for Sam Cuts, Inc. for 2020. Show all calculations.