OTI has a fiscal year end (FYE) of March 31. (The Fiscal Year is April 1 March 31, 20xx) OTI had 4,450,000 shares of common stock outstanding at the beginning of FYE 20xx. On May 1, 125,000 shares of common stock were issued for cash. At the beginning of the fiscal year there were 400,000 shares of convertible preferred stock outstanding. Each preferred stock is convertible into 2 shares of common stock. The preferred stock has a semiannual dividend rate of $.15 paid on July 31 and January 31. On September 1, holders converted 300,000 of the preferred stock shares to common stock (600,000 shares). On January 1, 175,000 shares of common stock were issued for cash. On February 1, and additional 50,000 shares of common stock were issued for cash.

What is their Earnings per share for each quarters?

(a) OTI had a $1,500,000 loss on discontinued operations (net of tax) in Quarter 2. (a) OTI had a $1,500,000 loss on discontinued operations (net of tax) in Quarter 2