Net income $2,670,000 Preferred stock: 46,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,600,000 Common stock: Shares outstanding 1/1 789,600 Issued for cash, 5/1 307,200 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, eg. \$2.55.) Earnings per share $