Southland Industries has $65,000 of 7% (annual interest) bonds outstanding, 1,500 shares of preferred stock paying an annual dividend of $5.00 per share, and 3,500 shares of common stock outstanding. Assuming that the firm has a 20% tax rate, compute earnings per share (EPS) for EBIT value of $31,500. Calculate the EPS for EBIT value of $31,500 below: (Round to the nearest dollar except for the EPS which should be rounded to the nearest cent.) EBIT Less: Interest Net profits before taxes Less: Taxes (20%) Net profit after taxes Less: Preferred dividends Earnings available for common stockholders EPS (3,500 shares) 69 69