Notorious Co. had 60,000 common shares outstanding on January 1, 2016. The company sold an additional 4,500 shares on March 1, issued a 3-for-1 stock split on September 1, and reaquired 3,600 shares on December 1. The company also declared, but has not paid, a dividend on its 10,000 shares of 5%, $10 par, non-cumulative preferred stock. The net income for the year was $46,500.

Compute Notorious Co.'s basic earnings per share for 2016 by showing your work completely related to the determination of both the numerator and the denominator, including the weighted-average shares of common stock.