PROFITABILITY RATIOS Presented below are selected data from the financial statements of Eagle’s Nest Corp. for 2009 and 2008.

2009 2008 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 the earnings per share as it would be reported on the 2009 income statement.
Cornerstone Exercise