On December 31, 2017, Dow Steel Corporation had 740,000 shares of common stock and 44,000 shares of 10%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $540,000 and $83,000 to common and preferred shareholders, respectively, on December 15, 2018. On February 28, 2018, Dow sold 68,000 common shares. In keeping with its long-term share repurchase plan, 3,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2018, was $2,800,000. The income tax rate is 40%. Required: Compute Dow's earnings per share for the year ended December 31, 2018. (Do not round intermediate calculations. Enter your answers in thousands.)

Numerator	/	Denominator	=	Earnings per share
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