On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 23,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2018, Jackson purchased 17,000 shares of common stock on the open market as treasury stock for $28 per share. Jackson sold 5,300 treasury shares on September 30, 2018, for $30 per share. Net incom for 2018 was $173,905. Also outstanding during the year were fully vested incentive stock options giving key personnel the option to buy 43,000 common shares at $33. The market price of the common shares averaged $32 during 2018. Required: Compute Jackson's basic and diluted earnings per share for 2018. (Round your answers to 2 decimal places.) Earnings per share Basic Diluted