Q.1 on January 1, 2017, Cyclop Inc. had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and $1,000,000 outstanding 10,000 shares Common stock, $10 par value, issued and outstanding 200,000 2,000,000 shares To acquire the net assets of three smaller companies, Cyclop Inc. authorized the issuance of an additional 160,000 common shares. The acquisitions took place as shown below: Date of Acquisition Shares Issued Company A April 1, 2017 50,000 Company B July 1, 2017 80,000 Company C October 1, 30,000 2017 On May 14, 2017. Cyclop realized a $90,000 (before taxes) gain on discontinued operations. On December 31, 2017, Cyclop recorded income of $300,000 from continuing operations. Instructions Assuming a 50% tax rate, compute the earnings per share data that should appear on the financial statements of Cyclop Inc. as of December 31, 2017