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please answer the following On December 31, 2020, Dow Steel Corporation had 630,000 shares of common stock and 33,000 shares of 7%, noncumulative, nonconvertible preferred
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On December 31, 2020, Dow Steel Corporation had 630,000 shares of common stock and 33,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $430,000 and $72,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 54,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2021, was $2,250,000. The income tax rate is 25% Required: Compute Dow's earnings per share for the year ended December 31, 2021 (Do not round Intermediate calculations. Enter your answers in thousands. Round "Earnings per share" answer to 2 decimal places.) Numerator Denominator Earnings per share Step by Step Solution
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