Burns Company reported $1,022.640 million in net income in 2021. On January 1, 2021, the company had 406 million shares of common stock outstanding. On March 1, 2021, 27.6 million new shares of common stock were sold for cash. On June 1, 2021, the company's common stock split 2 for 1. On July 1, 2021, 11.6 million shares were reacquired as treasury stock. Required: Compute Burns' basic earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Earnings per share $ 1.18 X