Kelley Company reports $1,275,000 of net income and declares $178,500 of cash dividends on its preferred stock for the year. At yearend, the company had 340,000 weighted-average shares of common stock. 1. What is the company's basic arnings per share (EPS)? 2. In the prior year, Kelley had a basic earnings per share (EPS) of \$3.03. Did Kelly improve its earnings per share (EPS) in the current year? Complete this question by entering your answers in the tabs below. What is the company's basic earnings per share (EPS)