For the year ended December 31, 2021, Kramerica Industries reported net income of $900,000. At January 1, 2021, the company had 700,000 common shares outstanding and 60,000 preferred stock, $5 par. The following changes in the number of shares occurred during 2021: Apr 30: Sold 20,000 common shares in a public offering. May 24: Declared and distributed a 5% stock dividend. June 1: Issued 12,000 shares as part of the consideration for the purchase of assets from a subsidiary. Dec 12: Paid $50,000 cash dividends on the preferred stock. What is Kramerica's basic earnings per share for the year ended December 31, 2021. O $2.12 None of the options listed O $1.19 isted O $1.12 $1.31