Snowball Corporation began operations on January 1, 2020. On January 1, 2020, Snowball Corporation issued 2,000 shares of $5 cumulative preferred shares. In addition, on January 1, 2020 Snowball issued 5,000 shares at $15 per share. On June 30, 2020, an additional 2,500 share were issued to investors in exchange for land with a current market value of $40,000. On October 1, 2020, Snowball reacquired 1,000 of its own common shares at $17.50 per share. No dividends have been declared during 2020 by Snowball. During the year, Snowball Corporation's profit is $32,500. Compute earnings per share for 2020 at December 31 for Snowball Corporation