The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.) Markus Company's common stock sold for $3.00 per share at the end of this year. The company paid a common stock dividend of $0.48 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Balance $31,000 $ 64,000 $ 59,200 $ 154,200 $490,000 $ 63,000 $ 140,000 Beginning Balance $ 32,200 $ 53,700 $ 64,000 $ 149,900 $ 506,000 $ 49,500 $ 126,000 $ 126,000 $ 126,000 $ 350,000 $ 380,000 $490,000 $ 506,000 This Year Sales (all on account) $ 750,000 Cost of goods sold Gross margin $440,000 $310,000 Net operating income $ 162,000 Interest expense $ 9,000 Net income $ 107,100 Foundational 14-1 (Algo) Required: 1. What is the earnings per share? (Round your answer to 2 decimal places.)