The income statement of Faster Computers, Inc. showed the following information on December 31, 2014

Income before income tax .......................................$1,472,000

Income tax expense ....................................................$441,600

Income from continuing operations .........................$1,030,400

Extraordinary loss (net of tax savings) ......................$(100,000)

Net income ..................................................................$930,400

Compute earnings per share figures for common stock under the assumption that Faster Computer Inc. has

(1) 320,000 shares of $24 par value common stock outstanding.

(2) 9,600 shares of $100, par 8% cumulative preferred stock, and 240,000 shares of no-par common stock. Dividends are not in arrears.

Assumption (1) is independent of (2).