MI Current Attempt in Progress A portion of the combined statement of income and retained earnings of Ivanhoe Inc. for the current year follows. $14.900.000 1,360.000 locome before extraordinary item Loss from discontinued operations not of applicable income tax (Note 1) Net income Retained earnings at the beginning of the year 13,540,000 84,830,000 98,370,000 Dividends declared: On preferred stock-$6.00 per share $318,000 14,670,000 14.988.000 On common stock-$175 per share Retained earnings at the end of the year $83,382,000 Note 1. During the year Ivanhoe Inc. suffered a major loss from discontinued operations of $1,360,000 after applicable Income tax reduction of $1.230.000 At the end of the current year, Ivanhoe Inc. has outstanding 8.330,000 shares of $10 par common stock and 53.000 shares of 6% preferred. On April 1 of the current year. Ivanhoe Inc issued 980,000 shares of common stock for $31 per share to help finance the loss from discontinued operations, Compute the earnines pershare on common stock for the current year as it should be reported to stockholders. (Round answer to 2 decimal places, es $2.55) Ivanhoe Inc. Income Statement $ eTextbook and Media Sve for Later Attempts: 0 of 3 used Sun Antwer