A portion of the combined statement of income and retained earnings of Sheffield Inc. for the current year follows.

Income before extraordinary item				$15,150,000
Loss from discontinued operations, net of applicable income tax (Note 1)				1,350,000
Net income				13,800,000
Retained earnings at the beginning of the year				82,570,000
				96,370,000
Dividends declared:
On preferred stock$6.00 per share		$282,000
On common stock$1.75 per share		14,840,000		15,122,000
Retained earnings at the end of the year				$81,248,000

Note 1. During the year, Sheffield Inc. suffered a major loss from discontinued operations of $1,350,000 after applicable income tax reduction of $1,230,000. At the end of the current year, Sheffield Inc. has outstanding 8,620,000 shares of $10 par common stock and 47,000 shares of 6% preferred. On April 1 of the current year, Sheffield Inc. issued 1,010,000 shares of common stock for $31 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.g. $2.55.)

Sheffield Inc. Income Statement December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 ???
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary LossIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues ?????		$ ?
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary LossIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues ????		?
DividendsExpensesExtraordinary LossExtraordinary GainIncome Before Extraordinary LossIncome From Continuing OperationsIncome Per Share Before Extraordinary ItemLoss From Discontinued OperationsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues ?????		$ ?