A portion of the combined statement of income and retained earnings of Blossom inc, for the current year follows. Note 1. During the year, Biossom inc suffered a major loss from discontinued operations of $1,325,200 after applicable income tax reduction of $1,190,000. At the end of the current year. Blossom inc. has outstanding 8.530,000 shares of $10 par common stock and 46,000 shares of 6% preferred. On April 1 of the current year, Blossom inc. issued 990,000 shares of common stock for $33 per share to help finance the loss from discontinued operations. Compute the earnings per share on common stock for the current year as it should be reported to stockholders. (Round answer to 2 Note 1. During the vear, Blosiom inc suffered a major loss from diucontinued operations of \$1 325,200 after applicable income tan reduction of $1190.000 At the end of the cuerentyear, Blotsom inc has oututanding 8.530,000 stares of $10 par common stock and 46,000 shares of 6K preferred. On Apral 1 of the current year, Blossom incilsued 990.000 shares of coentnen stock for $33 per share to helo finahce the Joss from discontinued operations. Compute the earninesper share on common stock. for the current year as it should be reported to stockholden. (Rhound answer to 2 decimal ploces, e.s. 2.55J