Exercise 16-18 Swifty Inc. presented the following data. $2,360,000 Net income Preferred stock: 55,000 shares outstanding, $100 par, 8% 5,500,000 cumulative, not convertible 810,000 Common stock: Shares outstanding 1/1 272,400 Issued for cash, 5/1 163,200 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share