On December 31, 2020, Dow Steel Corporation had 650,000 shares of common stock and 35,000 shares of 9%, non cumulative, non convertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $450,000 and $74,000 to common and preferred shareholders, respectively, on December 15, 2021.On February 28, 2021, Dow sold 64,000 common shares. In keeping with its long-term share repurchase plan, 7,000 shares were retired on July 1. Dow's net Income for the year ended December 31, 2021, was $2,350,000. The Income tax rate is 25% Required: Compute Dow's earnings per share for the year ended December 31, 2021. (Do not round Intermediate calculations. Enter your answers in thousands. Round "Earnings per share" answer to 2 decimal places.) Numerator 1 Denominator = Earnings per share