The following information was taken from Riddell Ltd's adjusted trial balance as at April 30, 2020: Sales revenue Interest revenue Utilities expense Insurance expense Cost of goods sold Distribution expenses Administration expenses Depreciation expense Interest expense Income tax expense Dividends declared-Common shares Dividends declared--Preferred shares $1,072,300 6,000 29,000 8,400 396,751 230,249 92,000 63,000 17,900 57,200 12,500 17,500 If Riddell had 41,575 common shares outstanding throughout the year, determine the company's basic earnings per share. (Round answer to 2 decimal places, e.g. 52.75.) Basic earnings per share $