At December 31, 2020,SunlandCorporation has2,300shares of $104par value,8%, preferred stock outstanding and100,000shares of $10par value common stock issued.Sunland's net income for the year is $243,500.

Compute the earnings per share of common stock under the following independent situations.(Round answers to 2 decimal places, e.g. 10.50.)

(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.Sunlandheld12,500shares of common treasury stock throughout the year.

Earnings per share of common stock$