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On December 31, 2020, Dow Steel Corporation had 680,000...

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Accounting

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On December 31, 2020, Dow Steel Corporation had 680,000 shares of common stock and 38,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $480,000 and $77,000 to common and preferred shareholders, respectively, on December 15, 2021 On February 28, 2021. Dow sold 54,000 common shares. In keeping with its long-term share repurchase plan, 4,000 shares were retired on July 1 Dow's net income for the year ended December 31, 2021, was $2,500,000. The income tax rate is 25%. Required: Compute Dow's earnings per share for the year ended December 31, 2021. (Do not round intermediate calculations. Enter your answers in thousands. Round "Earnings per share" answer to 2 decimal places.) Numento Denominator Earnings per share

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