On December 31, 2020, Witherspoon Services had 800,000 shares of common stock and 100,000 shares of 5.5%, noncumulative, nonconvertible $10 par preferred stock issued and outstanding. On April 1, 2021, Witherspoon issued 100,000 common shares for cash. On August 1, 20,000 shares of common stock were repurchased. Witherspoon distributed a 5% Common stock dividend on July 1. Witherspoon's net income for the year ended December 31, 2021, was $500,000. The company paid cash dividends to preferred shareholders on December 20, 2021. Required: ompute Witherspoon's earnings per share for the year ended December 31, 2021. ound to 2 decimal points. Show all computations