Assume that the following data relative to Kane Company for 2015 is available:

Net Income					$2,800,000
Transactions in Common Shares		Change			Cumulative
Jan. 1, 2015, Beginning number					720,000
Mar. 1, 2015, Purchase of treasury shares		(53,400	)		666,600
June 1, 2015, Stock split 2-1		666,600			1,333,200
Nov. 1, 2015, Issuance of shares		228,000			1,561,200
8% Cumulative Convertible Preferred Stock
Sold at par, convertible into 180,000 shares of common (adjusted for split).					$900,000
Stock Options
Exercisable at the option price of $25 per share. Average market price in 2015, $30 (market price and option price adjusted for split).					93,000	shares

a.Compute weighted-average shares outstanding for 2015.

b.Compute the basic earnings per share for 2015. (Round answer to 2 decimal places, e.g. 52.75.)

c.Compute the diluted earnings per share for 2015. (Round answer to 2 decimal places, e.g. 52.75.)