Following are separate income statements for Austin, Inc., and its 90 percent owned subsidiary, Rio Grande Corporation as well as a consolidated statement for the business combination as a whole.

	Austin				Rio Grande				Consolidated
Revenues	$	(745,000	)		$	(530,000	)		$	(1,275,000	)
Cost of goods sold		415,000				315,000				730,000
Operating expenses		116,000				76,000				232,000
Equity in earnings of Rio Grande		(77,000	)
Individual company net income	$	(291,000	)		$	(139,000	)
Consolidated net income									$	(313,000	)
Noncontrolling interest in consolidated net income										(22,000	)
Consolidated net income attributable to Austin									$	(291,000	)

Additional Information

• Annual excess fair over book value amortization of $40,000 resulted from the acquisition.
• The parent applies the equity method to this investment.
• Austin has 65,000 shares of common stock and 8,000 shares of preferred stock outstanding. Owners of the preferred stock are paid an annual dividend of $40,000, and each share can be exchanged for four shares of common stock.
• Rio Grande has 47,000 shares of common stock outstanding. The company also has 6,000 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 $37,000. These bonds can be exchanged for 10,000 shares of the subsidiarys common stock.

Determine Austins basic and diluted EPS. (Round your final answers to 2 decimal places.)