Presented below is information related to Berry Company.
1. Net Income [including an extraordinary gain (net of tax) of $70,000] $230,000
2. Capital Structure
a. Cumulative 8% preferred stock, $100 par, 6,000 shares issued and outstanding $ 600,000
b. $10 par common stock, 74,000 shares outstanding on January 1. On April 1, 40,000 shares were issued for cash. On October 1, 16,000 shares were purchased and retired. $1,000,000
c. On January 2 of the current year, Berry purchased Raye Corporation. One of the terms of the purchase was that if Berry’s net income for the Following year is $2400, 000 or more, 50,000 additional shares would be issued to Raye stockholders next year.
3. Other Information
a. Average market price per share of common stock during entire year $30
b. Income tax rate 30%

Instructions
Compute earnings per share for the current year.