Financial Statement Data for This Year and Last Year for Hanscombe

Short Answer

Financial statement data for this year and last year for Hanscombe Corp. are as follows: $\begin{array}{lrr} & \text { Current Year}& \text { Last Year } \\\text { Net income } & \$ 5,600,500 & \$ 4,988,000 \\\text { Preferred dividends } & 60,000 & 60,000 \\\text { Average number of common shares outstanding } & 125,000 & 110,000\end{array}$
Calculate earnings per share for each year.