Computing EPS: Simple Capital Structure

At the end of the year, the records of Block Corporation reflected the following.

a$.$ What EPS presentation is required$\_$basic, diluted, or both?

b$.$ Compute the required EPS amount$($s$).$

Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny.

c$.$ Compute the required EPS amount$($s$),$ assuming that the preferred stock is cumulative and there is one year of dividends in arrears.

Note: Enter the earnings per share amount in dollars and cents, rounded to the nearest penny.Computing EPS: Simple Capital Structure

At the end of the year, the records of Block Corporation reflected the following.

Common stock, $$5$ par, authorized $900,000$ shares

Outstanding January $1,720,000$ shares $$3,600,000$

Sold and issued April $1,3,600$ shares $18,000$

Issued $5\%$ stock dividend, September $30$; $36,180$ shares $180,900$

Preferred stock, $6\%,$ $$10$ par, nonconvertible, noncumulative, authorized $90,000$ shares

Outstanding during year, $36,000$ shares $360,000$

Paid$-$in capital in excess of par, common stock $324,000$

Paid$-$in capital in excess of par, preferred stock $180,000$

Retained earnings $($after the effects of current preferred dividends declared$)1,152,000$

Bonds payable, $6\mathrm{.}5\%,$ nonconvertible, issued at par January $11,800,000$

Net income $820,000$

Income tax rate, $25\%$

a$.$ What EPS presentation is required$$basic$,$ diluted, or both?