Exercise 16-20 On January 1, 2017, Headland Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 9,400 shares $940,000 Common stock, $10 par value, issued and outstanding 219,000 shares To acquire the net assets of three smaller companies, Headland authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below 2,190,000 Date of Acquisition Shares Issued Company A April 1, 201:7 Company B July 1, 2017 Company C October 1, 2017 51,600 76,800 30,000 On May 14, 2017, Headland realized a $86,400 (before taxes) insurance gain on discontinued operations. On December 31, 2017, Headland recorded income of $326,400 from continuing operations (after tax) Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Head and n ustres eso December 31 20.. Ro $2.55.) dans er 2 decima Places, eg Headland Industries Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT