Robertson Corporation reported net income for Year 1 of $250,000 and Year 2 of $300,000. The weighted-average common shares outstanding 100,000 in Year 1 and 120,000 in Year 2. Robertson also has 10,000 shares of $100 par value, cumulative, 5% preferred stock outstanding in both years. Dividends were not declared in Year 1, but both years' dividends were declared and paid in Year 2. Compute EPS for both years.

THIS IS THE ANSWER: Year 1, $2.00; Year 2, $2.08 but please tell me how to calculate it