During $20$X$1,$ Discolux Ltd$.$ had two classes of shares outstanding:

$-$ Class A preferred shares, $2,800$ shares issued and outstanding at the beginning of the year; quarterly dividend rate of $$240$ per share, cumulative; each share is convertible into $30$ shares of Class B common.

$-$ Class B common shares, $150,000$ shares issued and outstanding at the beginning of the year.

Also assume the following:

$-$ Net income for the year is $$3,180,000$; there are no discontinued operations.

$-600$ shares of Class A were converted into $18,000$ Class B shares on $1$ April $20$X$1$; dividends for the first quarter of the year were paid on $30$ March $20$X$1.$

$-$ Options to issue $14,000$ common shares to senior executives for $$4$ per share were outstanding during the entire year. No options were exercised during the year. The average share price during the year was $$12.$

Required:

$1.$ Determine the weighted average number of shares outstanding during $20$X$1.$

Weighted Average number of shares $????$

$2.$ Determine basic EPS. $($Do not round intermediate calculations and round your answer to $2$ decimal places.$)$

Bacic EPS $?????$

$3.$ Determine diluted EPS. $($Do not round intermediate calculations and round your answer to $2$ decimal places.$)$

Diluted EPS $?????$

During $20$X$1,$ Discolux Ltd$.$ had two classes of shares outstanding:

$-$ Class A preferred shares, $2,800$ shares issued and outstanding at the beginning of the year; quarterly dividend rate of $$240$ per

share, cumulative; each share is convertible into $30$ shares of Class B common.

$-$ Class B common shares, $150,000$ shares issued and outstanding at the beginning of the year.

Also assume the following:

$-$ Net income for the year is $$3,180,000$; there are no discontinued operations.

$-600$ shares of Class A were converted into $18,000$ Class B shares on $1$ April $20$X$1$; dividends for the first quarter of the year were paid on $30$ March $20$X$1.$

$-$ Options to issue $14,000$ common shares to senior executives for $$4$ per share were outstanding during the entire year. No options

were exercised during the year. The average share price during the year was $$12.$

Required:

Determine the weighted average number of shares outstanding during $20$ xx$1.$

Weighted average number of shares $?????$

Determine basic EPS. $($Do not round intermediate calculations and round your answer to $2$ decimal places.$)$

Basic ESP $?????$

Determine diluted EPS. $($Do not round intermediate calculations and round your answer to $2$ decimal places.$)$

Diluted EPS $?????$