Reference no: EM132570400

Hardaway Fixtures' balance sheet at December 31, 2017, included the following:

Shares issued and outstanding:

Common stock, $1 par                            $820,000

Nonconvertible preferred stock, $50 par  10,000

On July 21, 2018, Hardaway issued a 25% stock dividend on its common stock. On December 12 it paid $10,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2018, was $2,200,000.

Required:

Question 1: Compute Hardaway's earnings per share for the year ended December 31, 2018.