# ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%.2534%252F%252Fims.mheducation.com%252Fmghmiddleware%252Fmheproducts%252FimsCloseWindow 4 - Apply: Summative Assessment [due Day 7) @ Saved Help 4 On December 31, 2020, Dow Steel Corporation had 620,000 shares of common stock and 32,000 shares of 10%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $420,000 and $71,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 64,000 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 $2,200,000. 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 Skipped answers in thousands. Round "Earnings per share" answer to 2 decimal places.) eBook Numerator 1 Denominator Earnings per share ferences Screen Show