A portion of the combined statement of income and retained earnings of Crane Inc. for the current year follows. Note 1. During the year, Crane Inc. suffered a major loss from discontinued operations of $1,330,400 after applicable income tax reduction of $1,190,000. At the end of the current year, Crane inc, has outstanding 8,560,000 shares of $10 par common stock and 49,000 shares of 6% preferred On April 1 of the current year, Crane Inc, issued 980,000 shares of common stock for $34 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 decimal places, e.8. 2.55.) Compute the earnings per share on common stock for the current year as it should be reported to stockholders. (Round answer to 2 decimal places, e.8. 2.55.)