Question $1(12$ marks$)$:

For the year ended $31$ December $2022,$ Ramera Inc. had net income of $$120,000$ after paying $20\%$ in taxes. Ramera also had $500$ convertible preferred shares with a par value of $$100$; each is convertible into $40$ shares of common stock and pays a dividend of $20\%.$ The company also had the following common stock share information:

$\backslash$table$[[$Shares outstanding on $1$ January $2012(1***),32,000,,,,],[,10,000,,,,],[$Share repurchased on $1$ June $(6$ j$**),20,000,,,,],[$Stock split on $1$ August $2022(8**),1$:$3,,,,]]$

What is the company's weighted average number of shares outstanding? $(5$ marks$)$

What is the basic EPS? $(2$ marks$)$

What is the diluted EPS? $(2$ marks$)$