Lancaster Company had an income of $500,000 net of tax but before
extraordinary items in 2020. They had an extraordinary loss of $100,000
net of tax. They had 10,000 shares of convertible preferred $100 par stock,
6% dividend, with one year's dividend in arrears, convertible into
20,000 shares of common stock. Lancaster's weighted average shares for 2020
were 100,000 shares. The tax rate is 20%.
Prepare in good format earnings per share calculations for 2020 on all
necessary parts of income.