Requirement 1h. Compute the earnings per share of common stock for 2018 and 2017.

Begin by selecting the formula to compute the earnings per share of common stock.

Income Statement - X Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue Cost of Goods Sold Gross Profit $ 467,000 $ 423,000 239,000 214,000 228,000 132,000 209,000 130,000 Operating Expenses Income From Operations 96,000 10,000 79,000 11,000 Interest Expense Income Before Income Tax Income Tax Expense 86,000 20,000 66,000 $ 68,000 25,000 43,000 $ Net Income Print Done Panfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* Assets Current Assets: Cash Accounts Receivables, Net $ 92,000 $ 113,000 150,000 13,000 89,000 120,000 $ 101,000 163,000 205,000 9,000 Merchandise Inventory Prepaid Expenses Total Current Assets 368,000 214,000 381,000 182,000 Property, Plant, and Equipment, Net Total Assets $597,000 Liabilities $ 224,000 $ 123,000 243,000 99,000 Long-term Liabilities Total Liabilities 347,000 342,000 Stockholders' Equity Preferred Stock, 4% 102,000 133,000 102,000 119,000 Common Stockholders' Equity, no par $ 582,000 $ 563,000 Total Liabilities and Stockholders' Equity * Selected 2016 amounts Requirement 1h. Compute the earnings per share of common stock for 2018 and 2017. Begin by selecting the formula to compute the earnings per share of common stock. Earnings per share = (Net income - Preferred dividends) / Weighted average number of common shares outstanding Now, compute the earnings per share for 2018 and 2017. (Round your answers to the nearest cent, $X.XX.) 2018: 2017