Show All Work Assume that the following data relative to Kane Company for 2019 is available: Net Income Transactions in Common Shares Jan. 1, 2019, beginning number, 900,000 shares outstanding May. 1, 2019, Purchase of 150,000 treasury shares August 1, 2019 Company declared and distributed a 20% stock dividend Oct. 1, 2019, Issuance of 200,000 shares $2,500,000 Stock Options Kane Company has 20,000 stock warrants for a strike price of $20 a share outstanding. Market value of the stock is $40 a share at December 31, 2019. REQUIRED: Compute the basic earnings per share for 2019. (Round to the nearest penny.)