Assume that the following data relative to Crane Company for 2021 is available:

Net Income					$2,870,000
Transactions in Common Shares		Change			Cumulative
Jan. 1, 2021, Beginning number					680,000
Mar. 1, 2021, Purchase of treasury shares		(56,400)			623,600
June 1, 2021, Stock split 2-1		623,600			1,247,200
Nov. 1, 2021, Issuance of shares		210,000			1,457,200
6% Cumulative Convertible Preferred Stock
Sold at par, convertible into 200,000 shares of common (adjusted for split).					$1,000,000
Stock Options
Exercisable at the option price of $25 per share. Average market price in 2021, $30 (market price and option price adjusted for split).					81,000	shares

(a1)

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Compute weighted average shares outstanding for 2021.

Weighted average shares outstanding

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(a2)

Compute the basic earnings per share for 2021. (Round answer to 2 decimal places, e.g. 52.75.)

Basic earnings per share

$

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(b)

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