Question: For the year ended 3 1 December 2 0 1 9 , Wagner Company had net income of $ 4 , 8 0 0 ,

For the year ended 31 December 2019, Wagner Company had net income of $4,800,000. The company had an average of 678,000 shares of common stock outstanding, 29,000 shares of convertible preferred, and no other potentially dilutive securities. Each share of preferred pays a dividend of $16 per share, and each is convertible into 18 shares of the companys common stock.
Calculate the companys basic and diluted EPS.

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