Chris and Kris Co. had 1,309 shares of common stock outstanding at January 1, 2019. On April 1, 2019, it repurchased 120 shares of common stock. Outstanding all year were 10 shares of nonconvertible cumulative preferred stock. Ute reported net income of $1,434 for the year ended December 31, Year 2. Ute Co.'s board of directors declared $121 in preferred dividends during Year 2. In its December 31, Year 2, income statement, what amount should Ute report as basic earnings per share? (Round to the nearest penny.)

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