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Problem 146 Assume that the following data relative to Kane Company for 201 is available: Net Income $2,890,000 Transactions in Common Shares Jan. 1, 2018, Beginning nurmber Mar. 1, 2018, Purchase of treasury shares June 1, 2018, Stock split 2-1 Nov. 1, 2018, Issuance of shares hange Cumulative 720,000 67,200 652,800 652,800 1,305,600 0,000 1,515,600 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 190,000 shares of common (adjusted for split) $950,000 Stock Options Exercisable at the option price of $25 per share. Average market price in 2018, $30 (market price and option price adjusted for split). Compute weighted average shares outstanding for 2018. Weighted average shares outstanding 93,000 shares Compute the basic carnings per share for 2018. (Round answer to 2 decimal places, c.g. 52.75.) Basic earnings per shares