The following Jan. 1,2011 balance sheet information is for the Ack Corp., a company that has a simple capital structure: Common Stock, $2 par, 500,000 shares authorized, 210,000 shares issued, 198,000 shares outstanding 6% Cumulative Preferred Stock, $50 par, 10,000 shares authorized, 3,000 shares issued and outstandi Shown below are the common stock occurrences that happened for Ack in 2011: April 30: Acquired 9,000 shares of treasury stock Aug. 1: Declared and distributed a 25% stock dividend Oct. 31: Issued 36,000 new shares of common stock Entering 2011, Ack was three years in arrears in dividends. During 2011, Ack reported net income of $476,000 and declared no dividends. Required: Very clearly showing your work, compute Ack's 2011 earnings per share.