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On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 34,000 shares of 5%,$50 par, cumulative preferred stock outstanding. On February
On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 34,000 shares of 5%,$50 par, cumulative preferred stock outstanding. On February 28, 2021, Brisbane purchased 28,000 shares of common stock on the open market as treasury stock paying $44 per share. Brisbane sold 6,400 treasury shares on September 30,2021 , for $49 per share. Net income for 2021 was $184,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 54,000 common shares at $44. The market price of the common shares averaged $54 during 2021 . Required: Compute Brisbane's basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.)
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