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3. (LO 4) Kalin Corporation had 2020 net income of $1,000,000. Kalin had 100,000 shares of 6%, $50 par value preferred stock. During 2020, Kalin

3. (LO 4) Kalin Corporation had 2020 net income of $1,000,000. Kalin had 100,000 shares of 6%, $50 par value preferred stock. During 2020, Kalin had outstanding 250,000 shares of common stock. Compute Kalin's 2020 earnings per share.

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