Sandhill Inc. presented the following data:

Net income$5,559,000

Preferred shares: 49,300 shares outstanding, $100 par, 10% cumulative, not convertible$4,930,000

Common shares: Shares outstanding, Jan. 1, 2020639,000

Issued for cash, May 1, 2020111,000

Acquired treasury shares for cash, Sept. 1, 2020 (shares cancelled)153,000

3-for-1 stock split, Oct. 1, 2020

As of January 1, 2020, there were no dividends in arrears. On December 31, 2020, Sandhill declared and paid the preferred dividend for 2020.

(a)

Calculate earnings per share for the year ended December 31, 2020.(Round answer to 2 decimal places, e.g. 52.75.)

Earnings per share to be reported$______________