On January 1, 2014 Homer Company purchased 800 of the 1000 shares of Bart Company at book value. Homer and Bart had no inter-company dealings in 2015.

Additional information about Homer and Bart is as follows:

Homer (unconsolidated using initial value method for investment in Bart)

Income $200,000

Common shares outstanding 400,000 (no purchase or sale of stock this year)

Bart income $50,000

On January 1, 2015 Bart issued 200 shares of 6% $100 par convertible preferred stock. Each share of preferred stock can be converted into 1 share of Bart Common stock. In 2015 no shares were converted and the only dividend Bart paid was to the preferred stockholders.

Determine Homers EPS (earnings per share) if Barts preferred stock is anti-dilutive

This is what I have worked out for this problem.

Determine Homers EPS (earnings per share) if Barts preferred stock is dilutive.

This is what I worked out for this one, I don't think this one is correct. Please help.