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  3. (b) assume that crane earned net income of \(\$

(b) Assume that Crane earned net income of \(\$ 3,268,400\) during 2023....

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Accounting

(b)
Assume that Crane earned net income of \(\$ 3,268,400\) during 2023. In addition, it had 90,000 of \(7\%,\$ 100\) par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2023.
Calculate earnings per share for 2023, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g.15.25.)
Earnings per share \$
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