Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,100,000 Transactions in Common Shares Change Jan. 1, 2018, Beginning number 700,000 Mar. 1, 2018, Purchase of treasury shares (60,000) June 1, 2018, 10% Stock dividend 64,000 Nov. 1, 2018, Issuance of shares 240,000 Stock Options (issued on 7/1/2018) Exercisable at the option price of $25 per share. Average market price in 2018, $30 (market price and option price adjusted for split). 90,000 shares Instructions a. Compute the basic earnings per share for 2018. (Round to the nearest penny.) b. Compute the diluted earnings per share for 2018. (Round to the nearest penny.)