Questions $6-7.$ Rockland Inc. had net income of $$600,000$ for $2015.$ Rockland lne had average shares

outstanding of common stock of $100,000$ for the whole of $2015.$ The firm had $2,250$ convertible bonds

outstanding all year, each with $$1,000$ par value and a coupon rate of $4\%.$ The bonds were convertible into

a total of $30,000$ shares of common stock. The firm also had $20,000$ shares of $3\%$ non$-$convertible preferred

stock each with a par value of $$100$ that were outstanding all year. The tax rate is $40\%.$ There are no other

dilutive securities$.$

Compute Rockland's basic EPS.

Compute Rockland's diluted EPS.