Following are separate income statements for Austin, Inc., and its 80 percentowned subsidiary, Rio Grande Corporation as well as a consolidated statement for the business combination as a whole (credit balances indicated by parentheses).

	Austin				Rio Grande				Consolidated
Revenues	$	(708,000	)		$	(508,000	)		$	(1,216,000	)
Cost of goods sold		408,000				292,000				700,000
Operating expenses		108,000				78,000				211,000
Equity in earnings of Rio Grande		(90,400	)
Individual company net income	$	(282,400	)		$	(138,000	)
Consolidated net income									$	(305,000	)
Noncontrolling interest in consolidated net income										(22,600	)
Consolidated net income attributable to Austin									$	(282,400	)

Additional Information

• Annual excess fair over book value amortization of $25,000 resulted from the acquisition.
• The parent applies the equity method to this investment.
• Austin has 60,000 shares of common stock and 8,000 shares of preferred stock outstanding. Owners of the preferred stock are paid an annual dividend of $50,000, and each share can be exchanged for five shares of common stock.
• Rio Grande has 39,000 shares of common stock outstanding. The company also has 12,000 stock warrants outstanding. For $10, each warrant can be converted into a share of Rio Grandes common stock. Austin holds half of these warrants. The price of Rio Grandes common stock was $20 per share throughout the year.
• Rio Grande also has convertible bonds, none of which Austin owned. During the current year, total interest expense (net of taxes) was $26,000. These bonds can be exchanged for 12,000 shares of the subsidiarys common stock.

Determine Austins basic and diluted EPS