At December 31, the records of Nortech Corporation provided the following selected and incomplete data:

Common shares: no changes during the current year
Shares authorized: 5,000,000
Shares issued, ___ ; issue price $2 per share
Net income for the current year: $147,750
Common Shares account: $200,000
Dividends declared and paid during the year: $25,000
Retained Earnings balance, beginning of the year: $155,000

Required:

1. Complete the following:
Shares issued ___________
Shares outstanding ___________

TIP: To determine the number of shares issued, divide the balance in the Common Share account by the issue price per share.

2. Earnings per share is $___________ (Round your answer to two decimal places.)

3. Dividends paid per common share is $___________