(EPS: Simple Capital Structure) Flagstad Inc. presented the following data. Instructions Compute earnings per share. Net income...

(EPS: Simple Capital Structure) Flagstad Inc. presented the following data.

Instructions Compute earnings per share.

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Net income Preferred stock: 50,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 $2,500,000 5,000,000 750,000 300,000 150,000