Please help with A$.$ and B$.$

Reporting Earnings per Share Disclosures

Siera Inc. had $350,000$ shares of common stock outstanding throughout the year that declared and paid dividends of $$50,000$ during the year. The company also declared and paid dividends of $$5,000$ on $30,000$ shares of preferred stock during the year. The company reported the following amounts in its income statement for the year ended December $31($pretax$).$Reporting Earnings per Share Disclosures

shares of preferred stock during the year. The company reported the following amounts in its income statement for the year ended December $31($pretax$).$

Required

a$.$ Prepare the earnings per share section of the income statement for the year ended December $31,$ assuming a tax rate of $25\%.$

Use a negative sign to indicate a loss.

Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny.

Required

b$.$ Repeat requirement of part a except now assume that the company reported income from discontinued operations of $$35,000.$

Use a negative sign to indicate a loss.

Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny.