(Earnings per Share) At December 31, 2003, Shiga Naoya Corporation had the following stock outstanding.

10% cumulative preferred stock, $100 par, 107,500 shares               $10,750,000

Common stock, $5 par, 4,000,000 shares                                                20,000,000

During 2004, Shiga Naoya’s only stock transaction was the issuance of 400,000 shares of common on

April 1. The following also occurred during 2004.

Income from continuing operations before taxes                                $23,650,000

Discontinued operations (loss before taxes)                                         $  3,225,000

Preferred dividends declared                                                                   $  1,075,000

Common dividends declared                                                                   $  2,200,000

Effective tax rate                                                                                                      35%

Compute earnings per share data as it should appear in the 2004 income statement of Shiga Naoya Corporation.