Compute Li$-$Wus basic and diluted earnings per share for $2024$

On December 31, 2023, Li-Wu Company had 100,000 shares of common stock outstanding and 26,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28, 2024, Li-Wu purchased 20,000 shares of common stock on the open market as treasury stock for $31 per share. Li-Wu sold 5,600 treasury shares on September 30, 2024, for $33 per share. Net income for 2024 was $176,905. Also outstanding during the year were fully vested incentive stock options giving key executives the option to buy 46,000 common shares at $36. The market price of the common shares averaged $35 during 2024. Required: Compute Li-Wu's basic and diluted earnings per share for 2024. Note: Leave no cells blank - be certain to enter "O" wherever required. Do not round intermediate calculation. Round your answers to 2 decimal places. Answer is complete but not entirely correct. Earnings per share Basic Diluted 1.17 e 1.190