Maria Corp. reported 20X6 earnings from continuing operations of $4,045,600 and a loss from discontinued operations of $1,355,600 after tax. The tax rate was 25%. Maria reports the following information regarding its securities:
a. 400,000 $4 no-par cumulative preferred shares, issued 1 July 20X6. The shares are convertible into Class A common shares 6-for-1 at the option of the investor. The dividend was paid on a quarterly basis.
b. There are 175,000 $2.40 no-par cumulative preferred shares outstanding during 20X6. These shares were convertible into Class A common shares 4-for-1 at the option of the investor. All preferred shares converted to Class A common shares on 31 December 20X6 after the preferred dividend was paid.

c. There are $6,000,000 of convertible bonds payable outstanding during 20X6, convertible into Class A shares at the rate of 30 shares per $1,000 bond, at the option of the investor.
This bond was recorded as a hybrid financial instrument. During the year, interest of $458,000 was paid; the company recorded interest expense of $562,000.
d. Maria had 2,300,000 Class A common shares outstanding at the beginning of the year. On 1 February, the company repurchased and retired 750,000 Class A common shares on the open market for $36 per share. Maria issued 50,000 common shares for $44 per share on 1 December.
At the beginning of the year, 200,000 options were outstanding, allowing senior management to purchase 200,000 Class A shares for $10 per share. On 1 September, 60,000 of these options were exercised, when the market value of the common shares was $38 per share. The average market value for the first eight months of the year was $30 per share. The remaining options are still outstanding and will expire in 20X10.
All preferred dividends, plus common dividends of $2 per share, were paid on schedule in 20X6.
At the end of 20X6, another 400,000 options, for 400,000 Class A shares at a price of $48, were issued to management. These options have an expiry date of 20X15. The average common share price for the entire year was $44 per share.

Required:
1. Calculate required EPS disclosures.
2. Interpret the EPS results.