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At December 31, 2020, Smiley Corp. had 200,000 shares of common stock and 12,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No

At December 31, 2020, Smiley Corp. had 200,000 shares of common stock and 12,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No dividends were declared during 2020. Net income for the year ending 12/31/2020 was $450,000. For 2020, basic Earnings Per Share amounted to (ROUND YOUR ANSWER TO TWO DECIMAL PLACES) Answer: 1,875

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