Elite Trailer Parks has an operating profit of $275,000. Interest expense for the year was $37,900; preferred dividends paid were $29,100; and common dividends paid were $41,500. The tax was $67,700. The firm has 16,400 shares of common stock outstanding. a. Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. (Round your answers to 2 decimal places.)

b. What was the increase in retained earnings for the year?