1 Information about the Jack and Jill Companies are as follows: 3 Jack Company: common stock $1 par APIC $10,000 $90,000 $80,000 retained earnings Jill Company : $200 preferred stock $10 par 5% 20 shares common stock $1 par APIC retained earnings $500 $50 $50 Jack owns all of the outstanding common stock of Jill Company Part 1: Jack reported unconsolidate income of $20,000; Jill reported unconsolidated income of $100 The preferred stock is non-cumulative non-convertible what is Jack's earnings per share? Part 2: Jack reported unconsolidated income of $20,000 Jill reported unconsolidated income of $100 The preferred stock is non-cumulative. Each share of preferred stock can be converted into 4 shares of common stock What is Jack's earnings per share