Corporation had 250,000 shares of common stock and 10,000 shares of 8 %, $50 par, preferred stock outstanding on December 31, 2010. The preferred stock is cumulative and nonconvertible. On June 1, 2011, Jojo sold 36,000 shares of common stock for cash. No dividends were declared in 2011. The company reported a net income of $4,000,000 for the year ended 31, 2011. Calculate Jojo's earnings per share for the year ended December 31, 2011. Show your computations