The following information relates to Willowdale Ltd.s financial statements for the year ended 31 December 20X6: On 1 January 20X6, Willowdales capital structure consisted of the following: 462,000 common shares, issued for $5.81 million, were outstanding. 62,000 preferred shares bearing cumulative dividend rights of $17 per year. $1.12 million (par value) of 5% convertible bonds ($1,000 face value), with interest payable on 30 June and 31 December of each year. Each $1,000 bond is convertible into 65 common shares, at the option of the holder, at any time before 31 December 20X11. Interest expensed on the convertible bonds was $86,000. Outstanding options for 56,000 common shares at a price of $17 per share. The average market value of common shares during the period was $20. On 30 September 20X6, Willowdale issued an additional 112,000 common shares for $1.62 million cash. Willowdale reported earnings of $2.70 million for the year ended 31 December 20X6 net of tax of 25%.

Required: Calculate the basic and diluted earnings per share figures for 20X6. (Round your answers to 2 decimal places.)

The following information relates to Willowdale Ltd.s financial statements for the year ended 31 December 20X6:

1. On 1 January 20X6, Willowdales capital structure consisted of the following:
   • 462,000 common shares, issued for $5.81 million, were outstanding.
   • 62,000 preferred shares bearing cumulative dividend rights of $17 per year.
   • $1.12 million (par value) of 5% convertible bonds ($1,000 face value), with interest payable on 30 June and 31 December of each year. Each $1,000 bond is convertible into 65 common shares, at the option of the holder, at any time before 31 December 20X11. Interest expensed on the convertible bonds was $86,000.
   • Outstanding options for 56,000 common shares at a price of $17 per share. The average market value of common shares during the period was $20.
2. On 30 September 20X6, Willowdale issued an additional 112,000 common shares for $1.62 million cash.
3. Willowdale reported earnings of $2.70 million for the year ended 31 December 20X6 net of tax of 25%.

Required: Calculate the basic and diluted earnings per share figures for 20X6. (Round your answers to 2 decimal places.)