Sandhill Medical manufactures hospital beds and other institutional furniture. The companys comparative balance sheet and income statement for 2015 and 2016 follow.

Sandhill Medical Comparative Balance Sheet As of December 31
		2016		2015
Assets
Current assets
Cash		$309,000		$417,400
Accounts receivable, net		1,065,600		776,500
Inventory		731,000		681,100
Other current assets		306,000		247,000
Total current assets		2,411,600		2,122,000
Property, plant, & equipment, net		9,513,370		8,439,210
Total assets		$11,924,970		$10,561,210
Liabilities and Stockholders Equity
Current liabilities		$3,154,000		$2,846,000
Long-term debt		3,702,700		3,892,650
Total liabilities		6,856,700		6,738,650
Preferred stock, $5 par value		58,600		58,600
Common stock, $0.25 par value		178,000		103,800
Retained earnings		4,831,670		3,660,160
Total stockholders equity		5,068,270		3,822,560
Total liabilities and stockholders equity		$11,924,970		$10,561,210

Sandhill Medical Comparative Income Statement and Statement of Retained Earnings For the Year
		2016		2015
Sales revenue (all on account)		$10,440,000		$9,613,950
Cost of goods sold		4,879,000		5,298,750
Gross profit		5,561,000		4,315,200
Operating expenses		2,840,200		2,634,200
Net operating income		2,720,800		1,681,000
Interest expense		388,000		308,700
Net income before taxes		2,332,800		1,372,300
Income taxes (30%)		699,840		411,690
Net income		$1,632,960		$960,610
Dividends paid
Preferred dividends		29,450		29,450
Common dividends		432,000		449,000
Total dividends paid		461,450		478,450
Net income retained		1,171,510		482,160
Retained earnings, beginning of year		3,660,160		3,178,000
Retained earnings, end of year		$4,831,670		$3,660,160

(a) Calculate the earnings per share (average of 429,000 shares outstanding for the year) for 2016. (Round answer to 2 decimal places, e.g. 2.55.)

Earning per share

$___per share