Sheffield Inc. presented the following data

Sheffield Inc. presented the following data. Net income Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-l stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share 781,200 307,200 153,600