The following information is available for British Columbia Limited (BCL) a company whose shares are widely traded:

Comprehensive net income for 2020…………………………………………………………………. $230,000

Net Other Comprehensive Income for 2020…………………………………………………. $80,000

Average market price of common shares during 2020 ……………………………… $23

December 31, 2020 (fiscal year end) market price of common shares… $28

Income tax rate for fiscal year 2020………………………………………………………. 28%

The following common positions and share activity occurred during 2020 in chronological order:

Transactions in common shares during 2020:

Jan. 1, 2020, common shares outstanding………. 90,000

Mar. 1, 2020, issuance of common shares……….. 30,000

Nov. 1, 2020, repurchase of common shares…… (10,000)

Other information:

1. For all of the fiscal year 2020, $100,000 of 6% convertible bonds have been outstanding. The bonds are convertible into a total of 10,000 common shares at the option of the holder, and at any time after issuance and premium amortization amounted to $1,240 in 2020.

2. Stock options for 20,000 common shares have been outstanding for the entire 2020 fiscal year, and are exercisable at the option price of $25 per share.

3. For all of the fiscal year 2020, 1,000, $4 cumulative convertible preferred shares, have been outstanding. Upon original issue, the preferred shares were convertible into a total of 15,000 common shares at the option of the holders at any time after January 2025. Dividends on the preferred shares were one year in arrears.

4. 2,000, $3 convertible preferred shares were issued on May 31, 2020. Each preferred share is convertible in to 10 common shares at the request of the holder and exercisable from January 1, 2021.

Required #1: Calculate all required EPS disclosures for the year ended December 31, 2020. 

Required #2: What are the EPS requirements for ASPE compliant companies?