The following information relates to Willowdale Ltd.s financial statements for the year ended 31 December 2016:

a. On 1 January 2016, Willowdales capital structure consisted of the following:

- 454,000 common shares, issued for $5.77 million, were outstanding.

-54,000 preferred shares bearing cumulative dividend rights of $9 per year.

-$1.04 million (par value) of 6% 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 2011. Interest expensed on the convertible bonds was $82,000.

-Outstanding options for 52,000 common shares at a price of $9 per share. The average market value of common shares during the period was $25.

b. On 30 September 2016, Willowdale issued an additional 104,000 common shares for $1.54 million cash.

c. Willowdale reported earnings of $1.90 million for the year ended 31 December 2016 net of tax of 35%.

Required:

Calculate the basic and diluted earnings per share figures for 2016. (Round your answers to 2 decimal places.)

	2016
Basic earnings per share
Diluted earnings per share