On January 1, 2021, Pharoah Corp. had 497,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. February 1 Issued 114,000 shares March 1 Issued a 10\% stock dividend May 1 Acquired 102,000 shares of treasury stock June 1 Issued a 3-for-1 stocksplit October 1 Reissued 61,000 shares of treasury stock Assume that Pharoah Corp, earned net income of $3,601,000 during 2021. In addition, it had 95,000 shares of 9%,$100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021 . Compute earnings per share for 2021 , using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.8. \$2.55.) Earnings Per Share