Faccini Academy Surplus had $20,000$ shares of common stock and $6,000$ shares of $15\%,$$$15$ par value preferred stock outstanding through December $31,2024.$ Income from continuing operations for $2024$ was $$311,500,$ and loss on discontinued operations $($net of income tax saving$)$ was $$6,000.$

Compute Faccini's earnings per share for $2024,$ starting with income from continuing operations. Round to the nearest cent. $($Enter all EPS amounts to the nearest cent, $X$.$XX$.$ Use parentheses or a minus sign for amounts reducing the income from continuing operations.$)$

Begin by selecting the formula to compute the earnings per share.

Earnings per

share $=$

$($Net income $-$ Preferred dividends$)$ Weighted average number of common shares outstanding

Now, compute Faccini's earnings per share for $2024,$ starting with income from continuing operations.

Earnings per Share of Common Stock shares outstanding$)$:

Income From Continuing Operations

Loss From Discontinued Operations

Net Income