Sheridan Inc. reported a net income of $722,000 and a weighted average number of common shares of 284,000 for the year. It also had 48,000 $2 preferred shares. (a) Your answer is correct. Calculate basic earnings per share assuming the preferred shares are noncumulative and the dividend was paid. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share eTextbook and Media eTextbook 2.20 Assistance Used Attempts: 1 of 2 used E