Carrick Co. reported net income of $500,000 for 20x1. The company had 120,000 shares of $1 par common stock outstanding for the entire year. They also had 10,000 shares of 5%, $100 par preferred stock outstanding the entire year. Each share of preferred stock is convertible into two shares of common stock. Carrick declared and paid dividends on both common and preferred in 20x1. determine EPS for 20x1