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ASSIGNMENT RESOURCESExercise 16-20 On January 1, 2017, Bonita Industries had stock outstanding as follows Exercse 16-3 Exerase 16-4 6% Cumulative preferred stock, $100 par value, issued and outstanding 10,100 shares $1,010,000 Common stock, $10 par value, issued and outstanding 199,000 shares 1,990,000 To acquire the net assets of three smaller companies, Bonita authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below Revicv Scors Date of Acquisition Shares Issued Company A April 1, 2017 Company B July 1, 2017 Company C October 1, 2017 0,400 78,000 30,000 On May 14, 2017, Bonita realized a $91,200 (before taxes) insurance gain on discontinued operations On December 31, 2017, Bonita recorded income of $298,800 from continuing operations (after tax) Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Bonita Industries as of December 31, 2017, (Round answer to 2 decimal places, e.g. $2.55.) Bonita Industries