Question 1 Not complete Marked out of 10.00 P Flag question $550,000 110,000 Calculating EPS and Multiple Securities At the end of 2020, the records of Wolverine Corporation reflected the following. Common stock, $10 par; authorized 110,000 shares: issued and outstanding throughout the year, 55,000 shares Preferred stock, $50 par, 7%, cumulative, convertible into common stock, share for share; authorized, 11,000 shares; issued and outstanding throughout year, 2,200 shares Contributed capital in excess of par, common stock Retained earnings (no dividends declared during the year) Bonds payable, 10% nonconvertible, issued at par in 2016 Net income Stock options outstanding (all year for 11,000 shares of common stock at $15 per share) Income tax rate, 25% Average market price of the common stock during 2020, $25 per share 88,000 517,000 165,000 144,000 Required a. Is this a simple or a complex capital structure? Complex structure b. Compute the required EPS amounts. Note: Enter the earnings per share amounts in dollars and cents, rounded to the nearest penny. Note: If an amount is not required, leave the answer blank (zero). Per Share Net Income Available to Weighted Avg. Common Common Stockholders Shares Outstanding Basic EPS $ Diluted EPS $ $ $ Check