Exercise 16-18 X Your answer is incorrect. Try again. Grouper Inc. presented the following data. Net income Preferred stock: 53,000 shares outstanding, $100 par, 890 $2,370,000 cumulative, not convertible Common stock: Shares outstanding 1/1 5,300,000 769,200 274,800 144,000 Issued for cash, 5/:1 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 1.71