He that the following data related to Kane Company for 2021 is available Net Income $2,100 000 Transactions in Common Shares Change Cumulative Jan 1, 2021, Beginning number Mar. 1, 2021, Purchase of treasury shares 700.000 June 1, 2021, Stock split 2-1 (60,000) 640 000 640,000 Nov. 1, 2021, Issuance of shares 1,280,000 240,000 1,520,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common (adjusted for split). $1,000,000 Stock Options Exercise price, $25 per share. Average market price in 2021, $30 (market price and option price adjusted for split) 90,000 shares Instructions (20 points) (a) Compute the weighted average shares outstanding and the basic earnings per share for 2021. (Round to the nearest penny.) (b) Compute the diluted earnings per share for 2021. (Round to the nearest penny.)