The net income of Charles Company for the year ended December 31, 2002 was $300,000. The following additional information is available about the Company; - The weighted average number of shares outstanding during the year was 21,000. - During the year 2,000 shares of $100 par, 6% convertible preferred stock were outstanding. Each preferred stock is convertible into 2 share of common stock. - During the year, 50 bonds each of $1,000 face value were outstanding. The bonds were issued at par, pay 14% interest per year, and are convertible into 30 shares of common stock. - There were 5,000 options (each convertible into 2 shares) outstanding, with an option price of $22 each. The average market price for the period was $24. Calculate the basic and diluted earnings per share, assuming that the tax rate for the company is 40%.