On January 1, 2021, Sage Corp. had 461,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account.

February 1		Issued 124,000 shares
March 1		Issued a 10% stock dividend
May 1		Acquired 104,000 shares of treasury stock
June 1		Issued a 3-for-1 stock split
October 1		Reissued 61,000 shares of treasury stock

Assume that Sage Corp. earned net income of $3,325,000 during 2021. In addition, it had 102,000 shares of 10%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share

Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2021. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings Per Share