The following data came from the financial statements of St. James Corp. for 2019 and 2018.

2019 2018

Net income $143,900 $120,000

Cash dividends paid on preferred stock $15,000 $15,000

Cash dividends paid on common stock $42,000 $38,000

Weighted average number of preferred shares outstanding 20,000 20,000

Weighted average number of common shares outstanding 105,000 95,000

Required: Calculate St. James' earnings per share as it would be reported on the 2019 income statement. Round your answer to the nearest cent.