Question: Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,100,000 Transactions in Common Shares Change 700,0 Jan. 1, 2018, Beginning number 00 Mar. 1, 2018, Purchase of treasury shares (60,000) June 1, 2018, 10% Stock dividend 64,000 Nov. 1, 2018, Issuance of shares 240,000 Stock Options (issued on 1/1/2018). Exercisable at the option price of $25 per share. Average market price in 2018, $30 (market price and option price adjusted for split). 90,000 shares Instructions: a. Compute the basic earnings per share for 2018. (Round to the nearest penny.) b. Compute the diluted earnings per share for 2018. (Round to the nearest penny.)