Question

Hardaway Fixtures’ balance sheet at December 31, 2017, included the following: Shares issued and outstanding: Common...

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

Shares issued and outstanding:
Common stock, $1 par $800,000
Nonconvertible preferred stock, $50 par 20,000

On July 21, 2018, 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, 2018, was $2,000,000.
Required:
Compute Hardaway’s earnings per share for the year ended December 31, 2018.

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