A Company Had the Following Stockholders' Equity Information Available at Year-End:​Issued

Essay

A company had the following stockholders' equity information available at year-end:​Issued 11,000 shares of $2 par common stock for $12 per share.Issued 5,000 shares of $50 par, 6% preferred stock for $70 per share.Purchased 1,000 shares of previously issued common stock for $15 per share.Reported net income of $200,000.Declared and paid the preferred stock dividend.​Calculate the earnings per share for the current year.