Problem: For the current year, Evoque Company reported basic earnings per share of $8 and diluted earnings per share of $3. The difference between these figures is attributable to outstanding shares of convertible preferred stock. If all this preferred stock had actually been converted into common stock at the beginning of the current year, Evoque Company would have reported only one earnings per share amount, which would have been: Question options: $8. $5. $3. Cannot be determined.