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EPS Calculation Problem Gorilla Glue Company reported Net Income of $15,900 for 2017. Assuming a tax rate of 30% and the following detail regarding their capital structure, calculate both Basic & Diluted EPS for 2017. 1. 6,000 shares of common stock were outstanding for the entire year. The average stock price was $30 per share. 2. Options to purchase 800 shares of common stock at $20 per share were outstanding the entire year. 3. 7.5%, $100 par convertible preferred stock: $16,000 outstanding (issued at par), were outstanding the entire year. Each share of convertible preferred stock can be converted into common stock at a price of $20. 4. 9.0%, $100 par convertible preferred stock: $10,000 outstanding for the entire year. Each share can be converted into 4 shares of common stock. 5. 6% convertible bonds: $30,000 outstanding for the entire year (the bonds were originally issued for $32,000, a price that yielded 5.375%). Bond interest expense of $1,720 was recorded in 2017, premium of $80 is being amortized each year. Each $1,000 bond is convertible into 19 shares of common. 6. 9.2% convertible bonds: $25,000 outstanding for the entire year. The bonds were issued at $23,750, a price that yielded 9.68% at issuance. The original issue discount is being accreted into income at the rate of $50 per year. Each $1,000 bond is convertible into 45 shares of common stock