Sunland Inc. presented the following data.

Net income		$2,700,000
Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible		4,800,000
Common stock: Shares outstanding 1/1		781,200
Issued for cash, 5/1		278,400
Acquired treasury stock for cash, 8/1		153,600
2-for-1 stock split, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share