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. In 2020, X Corp. reported total revenue and expenses of $500,000 and $200,000, respectively. It paid dividends on preferred stock of $10,000 and declared

. In 2020, X Corp. reported total revenue and expenses of $500,000 and $200,000, respectively. It paid dividends on preferred stock of $10,000 and declared and paid common stock dividends of $35,000 for the calendar year of 2020. Also, X Corp. had a weighted average of 500,000 common shares outstanding. Compute the earnings per share for the year 2020.

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