During 2021, Quattro entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 20 million common shares, $1 par per share. Net income for 2021 was $110 million. Jan. 2: Issued 10 million common shares for cash. Jan. 3: Entered an agreement with the company president to issue up to 2 million additional shares of common stock in 2021 based on the earnings of Quattro in 2021. If net income exceeds $100 million, the president will receive 1 million shares; if net income exceeds $120 million, the president will receive 2 million shares. Required: Compute basic and diluted EPS for 2021.