Home Lake Mines Limited reported earnings of \(\$ 984,000\) in \(20 \mathrm{X} 8\) and declared no dividends. At the end of \(20 \mathrm{X} 8\), Home Lake Mines reported the following in the disclosure notes:

Share Capital

Multiple Voting Shares: 400,000 shares are authorized but 60,000 shares were issued and outstanding all year. Multiple voting shares are voting shares with a residual interest in assets. Multiple voting shares are entitled to a base dividend of \(\$ 3\) per share. Dividends declared above the base level (the total of \(\$ 3\) for multiple voting shares plus \(\$ 0.60\) for subordinated voting shares), are distributed between the two share classes. Multiple voting shares receive "extra" dividends at the rate of 15 times the "extra" dividend on subordinated voting shares. Multiple voting shares have six votes per share.

Subordinated Voting Shares: unlimited shares are authorized but 750,000 shares were issued and outstanding all year. Subordinated voting shares are voting shares with one vote each and a residual interest in assets. Subordinated voting shares are entitled to a base dividend of \(\$ 0.60\) per share. Dividends declared above the base level (the total of \(\$ 3\) for multiple voting shares plus \(\$ 0.60\) for subordinated voting shares) are distributed between the two share classes as described above.

Required:

1. Calculate basic EPS for \(20 X 8\).

2. Repeat requirement (1) assuming that multiple voting shares are entitled to five times the dividend of subordinated shares, as declared, with no minimum.