Concord Inc. presented the following data.

Net income		$2,740,000
Preferred stock: 45,000 shares outstanding, $100 par, 8% cumulative, not convertible		4,500,000
Common stock: Shares outstanding 1/1		714,000
Issued for cash, 5/1		291,600
Acquired treasury stock for cash, 8/1		135,600
2-for-1 stock split, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share

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