Exercise 16-18 XYour answer is incorrect. Try again. Nash Inc. presented the following data. Net income Preferred stock: 52,000 shares outstanding, $100 par, 9% $2,350,000 cumulative, not convertible Common stock: Shares outstanding 1/1 5,200,000 686,400 270,000 148,800 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 1.01