E$16-20($LO$4)($EPS: Simple Capital Structure$)$ On January $1,2017,$ Lennon Industries had stock outstanding as follows$\mathrm{.}6\%$ Cumulative preferred stock, $$100$ par value, issued and outstanding $10,000$ sharesCommon stock, $$10$ par value, issued and$$1,000,000$outstanding $200,000$ shares$2,000,000$To acquire the net assets of three smaller companies, Lennon authorized the issuance of an additional $160,000$ common shares. The acquisitions took place as shown below.Date of AcquisitionCompany A April $1,2017$Company B July $1,2017$Company C October $1,2017$Shares Issued$50,00080,00030\mathrm{.}000$On May $14,2017,$ Lennon realized a $$90,000($before taxes$)$ gain on discontinued operations.On December $31,2017,$ Lennon recorded income of $$300,000$ from continuing operations.InstructionsAssuming a $50\%$ tax rate, compute the earnings per share data that should