Problem 7 Bush Inc. had the following capital structure during 2014: Convertible Preferred stock, $10 par, 4% noncumulative, 25,000 shares issued & outstanding, convertible to 2 shares of common stock. Common stock, $5 par, 200,000 shares issued & outstanding. Bush had $500,000 net income for 2014 and did not pay the preferred dividends. A) What amount should Bush report as EPS and diluted EPS? B) What amount should Bush report as EPS and diluted EPS if the preferred dividends were paid? Show computations for A & B