On January 1, 20x1, Wilk Corp. had 480,000 shares of common stock outstanding. During 20x1, it had the following transactions that affected the...

II. Venz Company’s net income for 20x1 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issued during 20x0, each exercisable for one share at $6. None has been exercised, and 10,000 shares of common were outstanding during 20x1. The average market price of Venz’s stock during 20x1 was $20.

Compute diluted EPS for 20x1.