Stanley Department Stores reported net income of $731,000 for the year ended December 31, 2016. Additional Information: 60,000 Common shares outstanding at Jan. 1, 2016 Incentive stock options (vested in 2015) outstanding (Each option is exercisable for one common share at an During the year, the market price of Stanley's common On Aug. 30 Stanley sold 15,000 common shares. 12.000 throughout 2016 exercise price of $20.50) stock averaged $24.6 per share. Stanley's only debt consisted of $31,000 of 10% short term bank notes The company's income tax rate is 40%. Required: Compute Stanley's basic and diluted earnings per share for the year ended December 31, 2016. (Enter your answers in thousands.) Numerator / Denominator Earnings per Share Basic EPS Diluted EPS