RUT Corporation had net income for 2016 of$36,400. RUT had 2,400 shares of common stock outstanding at the beginning of the year and 20,000 shares of common stock outstanding as of December31,2016. During theyear,RUTdeclared and paid preferred dividends of $5,040. Compute RUT's earnings per share.

Select theformula, then enter the amounts to calculate RUT Corporation's earnings per share as of December31,2016. (Abbreviations used: Ave.= average, OS= outstanding, SE= stockholders'equity, shrs= shares. Round earnings per share to the nearestcent.)

(		-		)	/		=	Earnings per share
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