Cullumber Inc. presented the following data: Net income $5,525,000 Preferred shares: 50,200 shares outstanding. $100 par, 9% cumulative, not convertible $5.020,000 Common shares: Shares outstanding, Jan. 1, 2020 651.000 Issued for cash, May 1, 2020 108.000 Acquired treasury shares for cash, Sept. 1, 2020 (shares cancelled) 162,000 2-for-1 stock split, Oct. 1.2020 As of January 1, 2020, there were no dividends in arrears. On December 31, 2020, Cullumber declared and paid the preferred dividend for 2020. Your answer is incorrect Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 52.75.) $ Earnings per share to be reported e Textbook and Media Your answer is correct. What would the effect be on your calculation in (a) if the stock split had been declared on January 30, 2021, instead of on October 1, 2020, assuming the financial statements of Cullumber Inc. for the year ended December 31, 2020, were issued after January 30, 2021? If the stock split had occurred on January 30, 2021, before the financial statements for the year ended December 31, 2020 were i eTextbook and Media Your answer is incorrect. Assume that Cullumber did not declare or pay a preferred dividend in 2020. Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share $ e Textbook and Media Your answer is incorrect Assume that as at January 1, 2020, Cullumber had two years of dividends in arrears, and that on December 31, 2020, Cullumber declared and paid the dividends in arrears and the preferred dividend for 2020. Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share $ e Textbook and Media Your answer is incorrect. Your answer is incorrect. Assume that Cullumber did not declare or pay a preferred dividend in 2020. Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share $ e Textbook and Media Your answer is incorrect Assume that as at January 1, 2020, Cullumber had two years of dividends in arrears, and that on December 31, 2020, Cullumber declared and paid the dividends in arrears and the preferred dividend for 2020. Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share $ e Textbook and Media Your answer is incorrect. Assume that the preferred shares are non-cumulative, and that the preferred dividend was paid in 2020. Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share $ e Textbook and Media Your answer is incorrect. Assume that the preferred shares are non-cumulative, and that Cullumber did not declare or pay a preferred dividend in 2020. Calculate earnings per share for the year ended December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Earnings per share $ e Textbook and Media Your answer is correct. Would a current shareholder favour Cullumber Inc's declaration of a stock split? A current shareholder would favour V Cullumber Inc's declaration of a stock split. e Textbook and Media