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What should be cranes 2018 earnings per common share

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Crane Company had 291000 shares of common stock issued and outstanding at December 31, 2017. No common stock was issued during 2018. On January 1, 2018, Crane issued 206000 shares of nonconvertible preferred stock. During 2018, Crane declared and paid $98000 cash dividends on the common stock and $85000 on the preferred stock. Net income for the year ended December 31, 2018 was $625000. What should be Crane's 2018 earnings per common share? (rounded to the nearest penny)

Reference no: EM132363572

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