At December 31, 2020, Sheridan Corporation has 1,650 shares of $108 par value preferred stock outstanding and 100,000 shares of $10 per value common stocked. Sheridan's net income for the year is $244,000. Compute the earnings per share of common stock under the following independent situations. (Round answers to 2 decimal places, s. 18.50) (a) The dividend to preferred stockholders was declared. There has been no change in the number of shares of common stock outstanding during the year Earnings per share of common stock $ (b) The dividend to preferred stockholders was not declared. The preferred stock is cumulative. Sheridan held 11,500 shares of common treasury stock throughout the year Earnings per share of common stock $