Exercise 16-20 On January 1, 2017, Pronghorn Industries had stock outstanding as follows. 6% cumulative preferred stock, $100 par value, issued and outstanding 9,300 shares $930,000 Common stock, $10 par value, issued and outstanding 208,000 shares To acquire the net assets of three smaller companies, Pronghorn authorized the issuance of an additional 156,000 common shares. The acquisitions took 2,080,000 place as shown below. Date of Acquisition Shares Issued Company A April 1, 2017 Company B July 1, 2017 Company C October 1, 2017 50,400 76,800 28,800 On May 14, 2017, Pronghorn realized a $88,800 (before taxes) insurance gain on discontinued operations. On December 31, 2017, Pronghorn recorded income of $285,600 from continuing operations (after tax). Assuming a SO% tax rate, compute the earnings per share data that should appear on the financial statements of Pronghorn Industries as of December 31, 2017. (Round answer to 2 decimal places, e.g. $2.55.) Pronghorn Ind Click if you would like to Show Work for this