At December 31, 2019, Pliers Corp. had 380,000 common shares outstanding. No additional common shares were issued during 2020. On January 1, 2020, Pliers issued 420,000 non-cumulative, non-convertible preferred shares. During 2020, Pliers paid cash dividends of $200,000 to the common shares and $160,000 to the preferred shares. Net income for calendar 2020, was $540,000. Their income tax rate is 40%. Basic earnings per share for 2020 is $1.84. $1.42 $0.42 $1.00