The net income of Valente Inc. amounted to $3,750,000 for the year ended December 31, 2020. There were 200,000, $9.00 cumulative preferred shares throughout the year. At January 1, 2020, Valente Inc. had 270,000 common shares outstanding and issued 40,000 common shares on April 1. Then, on October 1, there was a 3-for-1 stock split of the common shares. Calculate Valente Inc.s EPS.

Calculating earnings per share when there is a stock split

hint - EPS = $2.17