Computing EPS: Convertible Preferred with Partial Conversion Bridgeman Company reported the following data for the current year. Net income, $2,220,000. Common shares outstanding at the beginning of the year, 800,000. - Nonconvertible cumulative preferred stock, \$100 par, \$8 dividend per share per year, 100,000 shares outstanding all year. -Issued 200,000 shares of common stock on October 1. For both preferred stock issues, assume dividends are paid for the time they are held. a. Compute basic EPS