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  3. assume that ivanhoe corp. earned net income of $3,

Assume that Ivanhoe Corp. earned net income of $3,500,000 during 2026. In addition, it had...

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Accounting

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Assume that Ivanhoe Corp. earned net income of $3,500,000 during 2026. In addition, it had 101,000 shares of 9%,$100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2026. Compute earnings per share for 2026, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.)

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