Company reported $ 239,800 net income for the current year. It has 100,100 shares of common shares outstanding for the entire year and another 50,400 shares of 2 % nonconvertible, cumulative, $ 6 par value preferred shares outstanding for the entire year. The board of directors did not declare dividends in the current year. Compute basic earnings per share for the current year.

The basic earnings per share for the current year is $