On January 1, 2017,SheridanIndustries had stock outstanding as follows.

6% Cumulative preferred stock, $100par value,issued and outstanding10,500shares$1,050,000

Common stock, $10par value, issued and outstanding213,000shares2,130,000

To acquire the net assets of three smaller companies,Sheridanauthorized the issuance of an additional158,400common shares. The acquisitions took place as shown below.

Date of Acquisition Shares Issued

Company A April 1, 2017 51,600

Company B July 1, 2017 75,600

Company C October 1, 2017 31,200

On May 14, 2017,Sheridanrealized a $91,200(before taxes) insurance gain on discontinued operations.

On December 31, 2017,Sheridanrecorded income of $270,000from continuing operations (after tax).

Assuming a50% tax rate, compute the earnings per share data that should appear on the financial statements ofSheridanIndustries as of December 31, 2017.(Round answer to 2 decimal places, e.g. $2.55.)

Sheridan Industries

Income Statement

For the year ended December 31, 2017

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