Sheridan Medical manufactures hospital beds and other institutional furniture. The company$$s comparative balance sheet and income statement for $2019$ and $2020$ follow.

Sheridan Medical

Comparative Balance Sheet

As of December $31$

$2020$

$2019$

Assets

Current assets

Cash

$$393,000$ $$417,450$

Accounts receivable, net

$1,087,000776,450$

Inventory

$750,000681,000$

Other current assets

$381,400247,100$

Total current assets

$2,611,4002,122,000$

Property, plant, & equipment, net

$8,651,7458,439,865$

Total assets

$$11,263,145$ $$10,561,865$

Liabilities and Stockholders$$ Equity

Current liabilities

$$3,203,000$ $$2,846,000$

Long$-$term debt

$3,702,6503,892,650$

Total liabilities

$6,905,6506,738,650$

Preferred stock, $$5$ par value

$59,00058,950$

Common stock, $$0\mathrm{.}25$ par value

$104,650103,850$

Retained earnings

$4,193,8453,660,415$

Total stockholders$$ equity

$4,357,4953,823,215$

Total liabilities and stockholders$$ equity

$$11,263,145$ $$10,561,865$

Sheridan Medical

Comparative Income Statement and Statement of Retained Earnings

For the Year

$2020$

$2019$

Sales revenue $($all on account$)$

$$10,177,200$ $$9,614,000$

Cost of goods sold

$5,613,2005,298,750$

Gross profit

$4,564,0004,315,250$

Operating expenses

$2,840,2002,634,200$

Net operating income

$1,723,8001,681,050$

Interest expense

$300,400308,600$

Net income before taxes

$1,423,4001,372,450$

Income taxes $(30\%)$

$427,020411,735$

Net income

$$996,380$ $$960,715$

Dividends paid

Preferred dividends

$29,50029,550$

Common dividends

$433,450413,050$

Total dividends paid

$462,950442,600$

Net income retained

$533,430518,115$

Retained earnings, beginning of year

$3,660,4153,142,300$

Retained earnings, end of year

$$4,193,845$ $$3,660,415$

$($a$)$

Calculate the earnings per share $($average of $418,000$ shares outstanding for the year$)$ for $2020.($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earning per share $enter the earning per share in dollars rounded to $2$ decimal places

per shareSheridan Medical manufactures hospital beds and other institutional furniture. The company's comparative balance shest and income

statament for $2019$ and $2020$ follow.

Assets

Currant assets