PROBLEM 4 Earnings per Share (10 points)

Eastham Corporation had the following types of stock issued for all of 2020.

6% preferred stock, $50 par value,
150,000 shares issued				$7,500,000
Common stock, $1.00 par, 12,000,000 shares issued				12,000,000

Net income for 2021 was $38,850,000. The company declared and paid the preferred dividends. The company also declared and paid common stock dividends of $0.20 per share. Required

Compute earnings per share data as it should appear on the income statement of Eastham Corporation for the year ending December 31, 2020.