Flagstad Inc. presented the following data.

Net income		$3,119,000
Preferred stock: 55,400 shares outstanding, $100 par, 9% cumulative, not convertible		5,540,000
Common stock: Shares outstanding 1/1		667,200
Issued for cash, 5/1		349,200
Acquired treasury stock for cash, 8/1		174,000
2-for-1 stock split, 10/1

Compute earnings per share.