Your answer is correct.

Assume that Cullumber Corp. earned net income of $$3,354,000$ during $2026.$ In addition, it had $101,000$ shares of $8\%,$$$100$ par tonconvertible, 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, eg$.2\mathrm{.}55.)$

Earnings pershare $

eTextbook and Media

Attempts: $1$ of $3$ used

Assume the same facts as in part $($b$),$ except that the preferred stock was cumulative. Compute earnings per share for $2026.($Round answer to $2$ decimal places, eg$.2\mathrm{.}55.)$

Earnings per share $

eTextbook and Media