Current Attempt in Progress At January 1, 2020, Stellar Company's outstanding shares included the following. 298,000 shares of $ 50 par value, 7% cumulative preferred stock 921,000 shares of $1 par value common stock Net income for 2020 was $ 2.560,000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2020. On April 1, 2020, 426,000 shares of common stock were sold for $10 per share, and on October 1, 2020, 106,000 shares of common stock were purchased for $ 21 per share and held as treasury stock. Compute earnings per share for 2020. Assume that financial statements for 2020 were issued in March 2021. (Round answer to 2 decimal places, es. $2.55.) Earnings per share $