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: Short Punch Manufacturing Corporation Retail Stores Assets Cash $ $ 57,000 109,000 37,000 89,000 Accounts Receivable Inventory 270,000 125,000 80,000 Land 110,000 Buildings and Equipment 500,000 340,000 Less: Accumulated Depreciation (230,000) (145,000) Investment in Short Retail Stores 124,000 Total Assets $ 940,000 $ 526,000 Liabilities and Equity Accounts Payable. $ 100,000 $ 61,000 Bonds Payable 280,000 200,000 200,000 110,000 Preferred Stock ($10 par value) Common Stock: $10 par value 150,000 $5 par value 100,000 55,000 Retained Earnings. 210,000 Total Liabilities and Equity $ 940,000 $ 526,000 Short Retail's 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 $50,200 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 $125,000 in 20X4 and paid dividends of $63,000. 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