Sandhill Corporation had 2020 net income of $1,066,000. During 2020, Sandhill paid a dividend of $2 per share on 36,350 shares of preferred stock. During 2020, Sandhill had outstanding 301,000 shares of common stock. Compute Sandhill’s 2020 earnings per share. (Round answer to 2 decimal places, e.g. 3.56.)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
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Sandhill Corporation had 2020 net income of $1,066,000. During 2020, Sandhill paid a dividend of $2 per share on 36,350 shares of preferred stock. During 2020, Sandhill had outstanding 301,000 shares of common stock.

Compute Sandhill’s 2020 earnings per share. (Round answer to 2 decimal places, e.g. 3.56.)

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