Michaels, Inc. reports $5,626,000 of net income in 2022.

During 2022, Michaels had:

1,896,000 shares of common stock outstanding - dividends of $1.36 paid on

each.

73,000 shares of preferred stock outstanding - dividends of $4.00 paid on

each.

116,000 stock options outstanding. The options allow the holder to

purchase a share of Michales common stock for $22.00. The average price

of Michaels common stock was $37.00 in 2022.

Michaels' 2022 basic earnings per share, to the nearest penny, is

Michaels, Inc. reports $5,626,000 of net income in 2022. During 2022, Michaels had: 1,896,000 shares of common stock outstanding - dividends of $1.36 paid on each. 73,000 shares of preferred stock outstanding - dividends of $4.00 paid on each. 116,000 stock options outstanding. The options allow the holder to purchase a share of Michales common stock for $22.00. The average price of Michaels common stock was $37.00 in 2022. Michaels' 2022 basic earnings per share, to the nearest penny, is