uestion 31 (5 points) Calculate the earnings per share in year's 1 and 2 for each of the following: Preferred Shares Cumulative Preferred Shares Common Shares based on the following information: 100,000 8% preferred shares ($10 par value) outstanding 140,000 5% cumulative preferred shares ($15 par value) outstanding 500,000 common shares (no par value) outstanding Dividend payout rate 40% Net Income: Year 1 = $400,000 Year 2 = $800,000