Hardaway Fixtures’ balance sheet at December 31, 2020, included the following: Shares issued and outstanding:Common stock, $1 par                                                      $ 800,000Nonconvertible preferred stock, $50 par                              20,000 On July 21, 2021, Hardaway issued a 25% stock dividend on its common stock. On December 12, it paid $50,000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $2,000,000.Required:Compute Hardaway’s earnings per share for the year ended December 31, 2021.

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.