The following data came from the financial statements of St. James Corp. for 2019 and 2018.
__________________________________________________ 2019 ______________ 2018
Net income ............................................................ $150,000 .................. $120,000
Cash dividends paid on preferred stock ............................. $15,000 .................... $15,000
Cash dividends paid on common stock ........................... $42,000 ...................... $38,000
Weighted average number of preferred shares outstanding .... 20,000 ....................... 20,000
Weighted average number of common shares outstanding ..... 105,000 ...................... 95,000
Required:
Calculate St. James' earnings per share as it would be reported on the 2019 income statement?