On January $1,2026,$ Cullumber Corp. had $469,000$ shares of common stock outstanding. During $2026,$ it had the following

transactions that affected the common stock account.

February $1,$ Issued $115,000$ shares

March $1$ Issued a $10\%$ stock dividend

May $1$ Acquired $101,000$ shares of treasury stock

June $1$ Issued a $3-$for$-1$ stock split

October $1$ Reissued $62,000$ shares of treasury stock

Assume that Cullumber Corp. earned net income of $$3,354,000$ during $2026.$ In addition, it had $101,000$ shares of $8\%,$$$100$ par

nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the

company did not declare and pay a preferred dividend in $2026.$ Compute earnings per share for $2026,$ using the weighted$-$average

number of shares determined in part $($a$).($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earnings per share

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$($c$)$

Your answer is incorrect.

Assume the same facts as in part $($b$),$ except that the preferred stock was cumulative. Compute earnings per share for

$($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earnings per share

Need help on part C please