Return to the Musicality data in S11-3. Musicality had 10,000 shares of common stock outstanding during 2016. Musicality declared and paid preferred dividends of $1,000 during 2016. Report Musicality's earnings per share on the income statement. (Round all calculations to two decimal places.)
Other gains (losses)...............................$(23,000)
Net sales revenue...................................195,000
Loss on discontinued operations..................10,000
Cost of goods sold..................................74,000
Operating expenses.................................66,000
Accounts receivahle.................................22,000