Assume that Sheridan Corp. earned net income of $7,812,000 during 2021. In addition, it had 213,000 shares of 10%, $100 par value nonconvertible, cumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.)

Assume that Sheridan Corp. earned net income of $7,812,000 during 2021. In addition, it had 213,000 shares of 10%,$100 par value nonconvertible, cumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021. Compute earnings per share for 2021, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. 2.55.)