On December 31, 2023, Li-Wu Company had 100,000 shares of common stock outstanding and 24,000 shares of 7% cumulative preferred stock outstanding. On February 28, 2024, Li-Wu purchased 16,000 shares of common stock on the open market as treasury stock for $27 per share. Li-Wu sold 5,200 treasury shares on September 30, 2024, for $29 per share. Net income for 2024 42,000 common shares at $32. The market price of the common shares averaged $31 during 2024. Required: Compute Li-Wu's basic and diluted earnings per share for 2024. Note: Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculation. Round your answers to 2 decimal places. On December 31, 2023, Li-Wu Company had 100,000 shares of common stock outstanding and 24,000 shares of 7% cumulative preferred stock outstanding. On February 28, 2024, Li-Wu purchased 16,000 shares of common stock on the open market as treasury stock for $27 per share. Li-Wu sold 5,200 treasury shares on September 30, 2024, for $29 per share. Net income for 2024 42,000 common shares at $32. The market price of the common shares averaged $31 during 2024. Required: Compute Li-Wu's basic and diluted earnings per share for 2024. Note: Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculation. Round your answers to 2 decimal places