On January 1, 2017, ABC Industries had stock outstanding as follows.

6% cumulative preferred stock, $100 par value, issued and outstanding 9,600 shares - $960,000

Common stock, $10 par value, issued and outstanding 183,000 shares - $1,830,000

To acquire the net assets of three smaller companies, ABC authorized the issuance of an additional 158,400 common shares. The acquisitions took place as shown below.

Date of Acquisition: Shares Issued:

Com. A, April 1, 2017 48,000

Com. B, July 1, 2017 80,400

Com. C, Oct 1, 2017 30,000

On May 14, 2017, ABC realized a $92,400 (before taxes) insurance gain on discontinued operations. On December 31, 2017, ABC recorded income of $320,400 from continuing operations (after tax). Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of ABC Industries as of December 31, 2017. Round to two decimal places and show all calculations.

The Income Statement will be formatted as:

ABC Industries

Income Statement

For the Year Ended December 31, 2017

Income from Continuing Operations $______

Discontinued Operations Gain, Net of Tax $______

Net Income/Loss $______