Question - Sandhill Inc. presented the following data.
Net income $2,340,000
Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,200,000
Common stock: Shares outstanding 1/1816,000
Issued for cash, 5/1322,800
Acquired treasury stock for cash, 8/1136, 800 2-for-1 stock split, 10/1
Compute earnings per share.