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Norris has the following capital structure: Preferred stock, 6 % , $ 1 5 par, 2 0 , 0 0 0 shares issued and outstanding

Norris has the following capital structure: Preferred stock, 6%, $15 par, 20,000 shares issued and outstanding for the year Common stock, $1 par, 100,000 shares issued and outstanding for the year Net income for the current year is $168,000. Preferred dividends were declared and paid in the last three years. If the preferred stock is noncumulative and no dividends were declared in the current year, what is the companys earnings per share reported in its financial statements for the current year?  

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