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A20-29 EPS, Cascade (LO 20-2, 20-3, 20-4) Ashante Sports Collections Ltd. (ASCL) ended 205 with 985,000 common shares outstanding, after issuing 265,000 common shares for cash on 31 December. The tax rate is 30%. There were no other common share transactions during the period. Net eamings were $1,440,000. The following elements are part of ASCL's capital structure: a. ASCL. had $6,400,000 (par value) of 4% bonds payable outstanding during the yeat. The bonds are convertible into 60 common shares for each $1,000 bond. Bond interest expense was $417,000 for the year. b. ASCL had 54,000 options outstanding throughout 205 to purchase 270,000 common shares for $17 per share. The average share price during the year was $29. The options were not exercisable until 2010. c. ASCL had 84,000,$2.65 preferred shares outstanding. The shares were cumulative. No dividends were declared in 206. The shares were convertible into 64,000 common shares. d. ASCL had a contingent share agreement outstanding to issue 64,000 common shares to the prior shareholders of a company that ASCL had acquired in 202. The shares become issuable If the acquired compony's operations accumulate $6,400,000 of postacquisition earnings before the end of 208. Earnings have been $3,640,000, to date, and the target is expected to be met in 207. e. ASCL had $9,400,000 (par value) of 3% bonds payable, issued on 31 March 205. The bonds are convertible into 50 common shares for each $1,000 bond. Bond interest expense was $292,750 for the 9 months of the year that the bond was outstanding. Required: Compute bosic and diluted EPS for 20X5, (Do not round intermediate calculations. Round your answers to 2 decimal places.)