Co. Reported net income of $724,000 for its for its fiscal year ended 1/31/17. At the beginning of that fiscal year, 59,000 shares of common stock were outstanding. On 10/31/16 an additional 31,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 24,000 shares of 7%, $55 par value preferred stock that were outstanding the entire year.

Calculate basic earnings per share of common stock for the year ended 1/31/17. EARNINGS PER SHARE= ??