EPS; restricted stock As part of its executive compensation plan, Vertovec Inc. granted 54,000 of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. Vertovec’s common shares have a market price of $5 per share on January 1, 2015, the grant date of the restricted stock award, as well as on December 31, 2016. 800,000 shares were outstanding at January 1, 2016. Net income for 2016 was $120,000. Required: Compute Vertovec’s basic and diluted earnings per share for the year ended December 31, 2016.