On December 31, 2020, Brisbane Company had 300,000 shares of common stock outstanding and 29,000 shares of 6%, $50 par, cumulative preferred stock outstanding. No dividends were paid in 2020. The preferred stock is convertible to 58,000 shares of common stock. On February 28, 2021, Brisbane purchased 23,000 shares of common stock on the open market as treasury stock paying $39 per share. Brisbane sold 5,900 treasury shares on September 30, 2021, for $44 per share. Net income for 2021 was $579,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 49,000 common shares at $39. The market price of the common shares averaged $49 during 2021.

Please calculated Basic & Diluted EPS with detailed calculation for weighted average shares outstanding for Preferred Shares converted and stock option exercised.