On January $1,2022,$ Sheffield Corporation purchased $6,500$ shares of treasury stock. Other information regarding Sheffield

Corporation is provided as follows.

$($a$)$ Compute earnings per share for each year. $($Round answer to $2$ decimal places, e$.$g$.10\mathrm{.}50.)$

On January 1, 2022, Sheffield Corporation purchased 6,500 shares of treasury stock. Other information regarding Sheffield Corporation is provided as follows. Net income Dividends on preferred stock Dividends on common stock Weighted-average number of common shares outstanding Common stockholders' equity beginning of year Common stockholders' equity end of year Earnings per share $ 2021 $ 2021 LA (a) Compute earnings per share for each year. (Round answer to 2 decimal places, e.g. 10.50.) 2022 $130,000 $39,000 $26,000 65,000 $780,000 $975,000 $975,000 $1,079,000 $143,000 $39,000 $32,500 2022 58,500