The following separate income statements are for Burks Company and its 80 percentowned subsidiary, Foreman Company:

	Burks				Foreman
Revenues	$	(418,000	)		$	(318,000	)
Expenses		338,000				234,000
Gain on sale of equipment		0				(24,000	)
Equity earnings of subsidiary		(61,000	)			0
Net income	$	(141,000	)		$	(108,000	)
Outstanding common shares		55,000				42,000

Additional Information

Amortization expense resulting from Foremans excess acquisition-date fair value is $36,000 per year.

Burks has convertible preferred stock outstanding. Each of these 7,000 shares is paid a dividend of $3 per year. Each share can be converted into three shares of common stock.

Stock warrants to buy 12,000 shares of Foreman are also outstanding. For $16, each warrant can be converted into a share of Foremans common stock. The fair value of this stock is $24 throughout the year. Burks owns none of these warrants.

Foreman has convertible bonds payable that paid interest of $39,000 (after taxes) during the year. These bonds can be exchanged for 15,000 shares of common stock. Burks holds 20 percent of these bonds, which it bought at book value directly from Foreman.

Compute basic and diluted EPS for Burks Company.