On January 1, 2021, Tonge Industries had outstanding 800,000 common shares ($1 par) that originally sold for $20 per share, and 3,000 shares of 10% cumulative preferred stock ($100 par), convertible into 30,000 common shares. On October 1, 2021, Tonge sold and issued an additional 20,000 shares of common stock at $36. At December 31, 2021, there were 28,000 incentive stock options outstanding, issued in 2020, and exercisable after one year for 28,000 shares of common stock at an exercise price of $30. The market price of the common stock at year-end was $48. During the year, the price of the common shares had averaged $40. S. Net income was $940,000. The tax rate for the year was 25%. Required: Compute basic and dilute EPS for the year ended December 31, 2021. (Round "Earnings per share" answers to 2 decimal places. Enter your answers in thousands.) & Answer is complete but not entirely correct. Numerator Denominator Earnings per Basic Diluted 910,000 940,000 805,000 > 42,000 1.13 1.12 $ CARA