During 2016, Linwood earned net income of $5,700,000. Calculate Linwood Products Companys earnings per common share (EPS) for 2016 rounding EPS to two decimal places. Assume the number of shares issued and outstanding did not change during the year.

Linwood Products Company balance sheet at December 31, 2016 reports the following: Preferred stock, $20 par value, 3% $11,000 shares issued Common stock, $2.50 par, 1,300,000 shares issued Treasury stock, common, 120,000 shares at cost $220,000 3,250,000 480,000 During 2016, Linwood earned net income of $5,700,000. Calculate Linwood Products Company's earnings per common share (EPS) for 2016 rounding EPs to two decimal places. Assume the number of shares issued and outstanding did not change during the year