On July 1, 20X2, Alan Enterprises merged with Terry Corporation through an exchange of stock and the subsequent liquidation of Terry Alan Issued 236,000 shares of its stock to effect the combination. The book values of Terry's assets and abilities were equal to their fair values at the date of combination, and the value of the shares exchanged was equal to Cherry's book value information relating to income for the companies is as follows: January 1-June 30, July 1-December 31, Net Income: Alan Enterprises Terry Corporation 20X1 20x2 $ 4,620,000 1,470,000 $ 2,640,000 722,000 28x2 $ 3,668,000 Alan Enterprises had 1,010,000 shares of stock outstanding prior to the combination. Remember that when calculating earnings per share (EPS) for the year of the combination, the shares issued in the combination were not outstanding for the entire year Required: Compute the net income and earnings-per-share amounts that would be reported in Alan's 20x2 comparative income statements for both 20X2 and 20x1 Note: Round earnings per share to 2 decimal places. Net income Earnings per share 20X1 20x2