Woolery, Inc., had 50,000 shares of common stock outstanding at January 1, 2017. On March 31, 2017, an additional 12,000 shares were sold for cash. On July 1, Woolery issued a 10 percent stock dividend. Woolery’s net income for the year was $135,000

Required:

Compute Woolery’s earnings per share (rounded to 2 decimal places) for the year ended December 31, 2017.