Liberty Ventures Inc. reported $320,000 profit in 2020 and declared preferred dividends of $20,000. The following changes in common shares outstanding occurred during the year:

Jan 1 100,000 common shares were outstanding :

June 30 Sold 22,000 common shares :

Sept. 1 Declared and issued a 30% common share dividend :

Nov 2 Sold 4,000 common shares.

Calculate the weighted average number of common shares outstanding during the year and the earnings per share. (Round the Earnings per share answer to 2 decimal places).