Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,860,000 Change Transactions in Common Shares Jan. 1, 2018, Beginning number Mar. 1, 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, Issuance of shares (58,800) 651,200 246,000 Cumulative 710,000 651,200 1,302,400 1,548,400 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 190,000 shares of common (adjusted for split). $950,000 Stock Options 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 Compute weighted average shares outstanding for 2018. Weighted average shares outstanding Compute the basic earnings per share for 2018. (Round answer to 2 decimal places, e.g. 52.75.) Basic earnings per share $ Compute the diluted earnings per share for 2018. (Round answer to 2 decimal places, e.g. 52.75.) Diluted earnings per share $