Punch Manufacturing Corporation owns 80 percent of the common shares of Short Retail Stores. The companies balance sheets as of December 31, 20X4, were as follows:

	Punch Manufacturing Corporation					Short Retail Stores
Assets
Cash		$	53,000				$	33,000
Accounts Receivable			110,000					90,000
Inventory			270,000					130,000
Land			110,000					80,000
Buildings and Equipment			510,000					310,000
Less: Accumulated Depreciation			(245,000	)				(140,000	)
Investment in Short Retail Stores			136,000
Total Assets		$	944,000				$	503,000
Liabilities and Equity
Accounts Payable		$	84,000				$	33,000
Bonds Payable			300,000					200,000
Preferred Stock ($10 par value)			200,000					100,000
Common Stock:
$10 par value			150,000
$5 par value								100,000
Retained Earnings			210,000					70,000
Total Liabilities and Equity		$	944,000				$	503,000

Short Retails 8 percent preferred stock is convertible into 14,000 shares of common stock, and its 10 percent bonds are convertible into 8,000 shares of common stock. Short reported net income of $53,600 for 20X4 and paid dividends of $30,300. Punch Manufacturing has 11 percent preferred stock and 12 percent bonds outstanding, neither of which is convertible. Punch reported after-tax income, excluding investment income from Short, of $130,000 in 20X4 and paid dividends of $62,000. The companies file separate tax returns and are subject to a 40 percent income tax. Required: Compute basic and diluted EPS for the consolidated entity. (Round your intermediate calculations and final answers to two decimal places.)

Basic earnings per share
Diluted earnings per share