On January1, 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. Required: Showing your computations, present in good order Bell's earnings per share for 2016