Lincoln Corporation began the year with 50,000 shares of common stock outstanding. On May 1, an additional 18,000 shares of common stock were issued. On July 1, 20,000 shares of common stock were acquired as treasury stock. On September 1, the 6,000 treasury shares of common stock were reissued. Lincoln Corporation's net income for the calendar year is \(\$ 229,500\).

Required 

Compute earnings per share.