Problem: TEF Corp has the following Stockholders' Equity account balances at the end of the current fiscal year, after all closing entries have been posted:
Common stock outstanding: 2,203,000 shares with a dollar value of $110,150 ($0.05 per share)
Preferred stock issued: 1,000 shares with a dollar value of $1,000.
Retained earnings: $53,575,800.
Net income for the current year was $8,290,000.
Preferred dividends are $55,000
No treasury stock.
Compute the earnings per share of common stock.
Please show work