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Saved On December 31, 2020. Witherspoon Services had 800,000 shares of common stock and 200,000 shares of 55%, noncumulative, nonconvertible $10 par preferred stock issued
Saved On December 31, 2020. Witherspoon Services had 800,000 shares of common stock and 200,000 shares of 55%, noncumulative, nonconvertible $10 par preferred stock issued and outstanding. On March 2, 2021. Witherspoon sold 120,000 common shares. In keeping with its long-term share repurchase plan, 30,000 shares were retired on August 31 Witherspoon distributed a 10% common stock dividend on June 3. Witherspoon's net income for the year ended December 31, 2019. was $600,000 The company paid cash dividends of $110,000 to preferred shareholders on December 20, 2021. The income tax rate is 25% Required: Compute Witherspoon's earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.) Earnings per Share
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