Problem # 2 (Earnings per Share) (15 points) At December 31, 2017, Shulo Corporation had the following stock outstanding 10% cumulative preferred stock, $100 par, 202,000 shares Common stock, $1 par, 4,000,000 shares $20,200,000 4,000,000 During 2017, Shulo did not issue any additional common stock. The following also occurred during 2017 Income from continuing operations before taxes Discontinued operations (income before taxes) Preferred dividends declared Common dividends declared Effective tax rate $61,500,000 6,500,000 2,020,000 1,800,000 40% Instructions Compute earnings per share data as it should appear in the 2017 income statement of Shulo Corporation. Round to two decimal places.)