On January 1, 2015, Warren Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On October 1, the corporation re-purchased on the market 40,000 of its own outstanding shares. Instructions 18 Compute the weighted average number of shares to be used in computing earnings per share for 2015. Shares Months left in year Wt AVG Shares Jan 1st 1,000,000 2/12 March 1st 1,150,000 7/12 October 1st 1,110,000 3/12 Total m 0 Problem III-Earnings Per Share with Convertible Preferred Stock. Net Income is $310,000. Preferred Stock Dividends are $1,600. Weighted Average number of common shares outstanding is 50,000. The preferred stock can be converted into 15,000 shares of common stock. 1 19 What is the Basic EPS? 2 33 14 45 46 47 148 149 150 151 152 20 What is the Dilutive EPS