Sandhill Corporation is preparing the comparative financial statements for the annual report to its shareholders for the fiscal years ended May 31, 2020, and May 31, 2021. The income from operations was $1,947,100 and $2,346,400, respectively, for each year. In both years, the company incurred a 10% interest expense on $2,336,500 of debt for an obligation that requires interest-only payments for five years. The company experienced a loss of $605,900 from the discontinued operation of its Scotland facility in February 2021. The company uses a 30% effective tax rate for income tax.

The capital structure of Sandhill Corporation on June 1, 2019, consisted of 900,900 common shares outstanding and 21,620 of $50, par value, 6% cumulative preferred shares. There were no preferred dividends in arrears, and the company had not issued any convertible securities, options, or warrants.

On October 1, 2019, Sandhill sold an additional 463,200 common shares at $19 per share. Bryce distributed a 20% stock dividend on the common shares outstanding on January 1, 2020. On December 1, 2020, Sandhill was able to sell an additional 819,900 common shares at $24 per share. These were the only common share transactions that occurred during the two fiscal years.

Income from continuing operations: 2020- $1199415 2021 - $1478925

Net Income: 2020 - $1199415 2021 - $1054795

a)calculate earnings per share for Income from continuing operations

b) calculate earnings per share for net income