Walid Inc. is a Canadian company, is preparing its financial statements for the fiscal year ended December 31, 2023. The following information has been gathered to calculate earnings per share. 50,000 options were issued in 2022, allowing the holder to buy one share at $ 100 for every option held. The options expire in March 2025. 480,000 common shares were outstanding on January 1, 2023. 100,000 of $ 4 no par value non-cumulative preferred shares were outstanding throughout 2023. 100,000 of $ 5 no par value cumulative convertible preferred shares were outstanding throughout 2023. The shares had been issued on January 1, 2021. No dividends had been declared and or paid on these shares in either 2021 or 2022. The preferred shares are convertible at any time into one common share for every preferred share. $1,000,000 convertible bonds payable were arranged in 2021 due 2030 with a coupon rate of 4%. Each $ 1,000 bond payable can be converted into 5 common shares. 60,000 common shares were sold for $ 150 per share on March 1, 2023. On September 1, Walid met contingency conditions that led to 90,000 new common shares issued on October 1. Net income was $6,000,000. There were no discounted operations in 2023. The company is subject to 30% income tax rate and average common share price in 2023 was$ 180. In December 2023, the company declared and paid the dividends to all preferred shareholders. No dividends were declared or paid to common shareholders in 2023. Required: a. Calculate Walid's basic EPS for the year ended December 31, 2023. (4.5 Marks) b. Calculate Walid's diluted EPS for the year needed December 31, 2023. (11.5 Marks)