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Calculate earnings per share for the year ended December

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Reference no: EM132570523

Question - Sandhill Inc. presented the following data:

Net income $5,559,000

Preferred shares: 49,300 shares outstanding, $100 par, 10% cumulative, not convertible $4,930,000

Common shares: Shares outstanding, Jan. 1, 2020 639,000

Issued for cash, May 1, 2020 111,000

Acquired treasury shares for cash, Sept. 1, 2020 (shares cancelled) 153,000

3-for-1 stock split, Oct. 1, 2020

As of January 1, 2020, there were no dividends in arrears. On December 31, 2020, Sandhill declared and paid the preferred dividend for 2020.

Required - Calculate earnings per share for the year ended December 31, 2020.

Reference no: EM132570523

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