Bytol Corp. had the following common share transactions and balances during 20X8:
• 1 January—160,000 shares outstanding
• 30 April—60,000 shares issued on conversion of $5,500,000 bonds payable
• 30 September—30,000 shares issued on conversion of preferred shares
• 1 December—3-for-1 stock split
Bytol reported net earnings of $998,000 in the year. The bond that converted on 30 April had been a 6%, five-year $5,500,000 convertible bond. It converted at maturity. There had originally been a bond discount recorded, with a remaining balance of $9,222 at the beginning of the year. There was also a $220,000 common stock conversion option recorded in equity with respect to this bond. This was transferred to the common share account on bond conversion. There were preferred shares outstanding, $4.00 cumulative shares, convertible 6-for-1 prior to the split and 18-for-1 after the split. The preferred dividend was payable quarterly (that is, $1.00 per quarter) and 5,000 of the total 20,000 outstanding preferred shares converted after the dividend paid on 30 September. The tax rate was 30%.

Required:
Calculate basic and diluted EPS for 20X8.