Problem 2-1 Information Assume that the following data relative to Kane Company for 2020 is available:

Net Income (after tax - tax rate of 40%)

$2,100,000

Transactions in Common Shares
Jan. 1, 2013, Beginning number	700,000
Mar. 1, 2013, Purchase of treasury shares	640,000
June 1, 2013, Stock split 2-1
Nov. 1, 2013, Issuance of shares	1,460,000

Convertible Bonds Payables
Sold at par and interest rate of 8%, convertible into 200,000 shares of common (adjusted for split).	$5,000,000
Stock Options
Exercisable at the option price of $25 per share. Average market price in 2020, $30 (market price and option price adjusted for split). Problem 2-1, (a) Compute the weighted-average number of shares to be used in computing earnings per share for 2020. Problem 2-1, (b) Compute the basic and dilutive earnings per share, if any, for 2020. Assume that the weighted-average number of shares for basic earnings per share is 1,350,000 shares of common stock. (Round to the nearest penny.)	90,000 shares