Exercise 16-20 On January 1, 2017, Cheyenne Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 10,800 shares 100.000 Common stock, $10 par value, issued and outstanding 194,000 shares To acquire the net assets of three smaller companies, Cheyenne authorized the issuance of an additional 160,800 common shares. The acquisitions took place as shown below. Date of Aqui Sharested Cm Com .2017 2017 CO On May 14, 2017, Cheyenne realized a $91,200 (before taxes) insurance gain on discontinued operations. On December 31, 2017, Cheyenne recorded income of $330,000 from continuing operations (after tax). Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Cheyenne Industries as of December 31, 2017. (Round answer to 2 decimal places, e.g. $2.55.) Cheyenne industries