Sunland Inc. presented the following data. Net income $2,639,920 Preferred stock: 54,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,400,000 Common stock: Shares outstanding 1/1 712,800 Issued for cash, 5/1 297,600 Acquired treasury stock for cash, 8/1 148,800 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.) Earnings per share $ 0.22