Hardaway Fixtures’ balance sheet at December 31, 2015, included the following: Shares issued and outstanding: Common stock, $1 par $800,000 Nonconvertible preferred stock, $50 par 20,000 On July 21,...

Hardaway Fixtures’ balance sheet at December 31, 2015, included the following:

Shares issued and outstanding:

Common stock, $1 par $800,000

Nonconvertible preferred stock, $50 par 20,000

On July 21, 2016, 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, 2016, was $2,000,000.

Required:

Compute Hardaway’s earnings per share for the year ended December 31, 2016.