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Question - Hardaway Fixtures' balance sheet at December 31, 2020, included the following: Shares issued and outstanding: Common stock, $1 par $800,000, Nonconvertible preferred stock, $50 par 20,000.
On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $2,000,000.
Required - Compute Hardaway's earnings per share for the year ended December 31, 2021.
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