A corporation has 4 comma 000 shares, 10% preferred stock of $ 60.00 par preferred stock, and 8 comma 000 shares of common stock outstanding. The net income for the year is $ 280 comma 000 . Calculate earnings per share. (Round your answer to the nearest cent.)

Sunset foods relies on a highly centralized functional structure to ensure consistency in the quality and taste of its products and to drive down costs via process innovations. however, as a consequence of its highly compartmentalized structure, the firm has found it difficult to transfer information and ideas from one department to the next. with the launch of its new line of breakfast foods coming up, how can sunset improve its ability to collaborate without sacrificing the benefits of its current structure