3. Martin Brothers Inc. had the following items in its capital structure at December 31, 2019: Preferred stock, 10%, $8 par value, convertible into 46,200 common shares no earlier than 2020, issued at par value on July 1, 2019 (current market value, $8 per share).. $1,660,000 Common stock, $20 stated value, issued January 2, 2016 (current market value, $17 per share). 1,200,000 Treasury stock, common, 10,000 shares, acquired on November 30, 2018. 280,000 Common stock options, issued in 2016, exercisable for 22,000 shares, beginning in 2021, at a "strike" price of $15 per share. The cash that would be received from the option-holders from a hypothetical exercise of the options at December 31, 2019 would be sufficient for Martin Brothers to acquire 8,800 shares of its own common stock (as treasury stock). Stock warrants outstanding, issued in exchange for legal services at June 30, 2019, convertible into 9,800 shares of common stock at the discretion of the warrant-holders, but not earlier than 2022. The hypothetical conversion of the warrants at December 31, 2019 would require a cash payment from the warrant-holders, which would be sufficient for Martin Brothers to acquire 5,440 shares of its own common stock (as treasury stock).. 220,000 Additional paid-in-capital.. 760,000 ... Retained earnings 460,000 Martin Brothers' net income for 2019 was $553,000. As of December 31, 2019, the company s Board of Directors had not yet declared the dividend for 2019 for the preferred shareholders. What earnings per share would Martin Brothers Inc. report for the year ended December 31, 2019? Prepare a schedule to support your