On January 1, 2016, Bell Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On March 1, Bell purchased 24,000 shares of common stock as treasury stock for $40 per share. It sold 6,000 treasury shares on October 1 at $45 per share. Net income for 2016 was $1, 085, 430. Also outstanding in 2016 were stock options giving executives the right to buy 50,000 common shares at $40. During 2016, the average market price of the common shares was $50 with closing price of $56 on December 31. The company's tax rate is 40%. 5 million dollars of 6% bonds were issued at face value on January 1, 2016. Those bonds are convertible into common stock, in a ratio of 1:10. None of them had been converted by December 31 and no stock options were exercised during the year. In 2012, to facilitate the acquisition of a local company, Bell had entered into an agreement promising the shareholders of that company, if they would vote for the acquisition, 12,000 shares of Bell if the net income of the local company reached $900,000 in 2017. Showing your computations, present in good order Bell's earnings per share for 2016