Exercise 19-14 (Algo) EPS; stock dividend; nonconvertible preferred stock [LO19-5, 19-6, 19-7]

Hardaway Fixtures' balance sheet at December 31, 2020, included the following:

Shares issued and outstanding:

Common stock, $1 par $ 1,120,000

Nonconvertible preferred stock, $50 par 10,000

On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $85,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $5,200,000. Required: Compute Hardaway's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Do not round intermediate calculations.)

Answer is complete but not entirely correct. Numerator Denominator Earnings per Share 5,115,000 X 1,400,000 > $ 3.65 $