You are computing annual earnings per share and required disclosures for

Fencing based on company-provided information. Net income is$4,570,000.

The weighted-average number of shares is 2,740,000.

The year-end balance of outstanding shares is also2,740,000.

There are options outstanding all year to acquire1,413,750

shares of common stock at$24

per share. The average price of the company's common stock is$39

per share. The firm has98,000

shares of$49

par value nonconvertible, noncumulative preferred stock outstanding as of the beginning of the year. The dividend rate is1.10

per share. The board of directors declared the annual dividend. The company is subject to a30%

tax rate.