Sunland Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Sunland Medical Comparative Balance Sheet As of December 31 2020 2019 Assets Current assets Cash $390,000 $417.450 1.079.000 776,450 729,000 681.100 381,400 247.100 Accounts receivable.net Inventory Other current assets Total current assets Property, plant, & equipment, net Total assets 2,579,400 2,122,100 8,439,815 8,659,740 $11.239.140 $10,561.915 Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Current liabilities $3,178,000 $2,846,050 Long-term debt 3,702,700 3,892,600 Total liabilities 6,880,700 6,738,650 Preferred stock, $5 par value 58.900 58,900 Common stock, $0.25 par value 104,600 103,850 Retained earnings 4,194,940 3,660,515 Total stockholders' equity 4,358,440 3,823,265 Total liabilities and stockholders' equity $11,239,140 $10,561,915 Sunland Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10,177,200 $9,614,000 Cost of goods sold 5,611,950 5,298,800 Gross profit 4,565,250 4,315,200 Operating expenses 2,840,200 2,634,150 Net operating income 1,725,050 1,681,050 Interest expense 300,300 308,600 Net income before taxes 1,424,750 1,372,450 Income taxes (30%) 427,425 411,735 Net income $997,325 $960,715 Dividends paid Preferred dividends 29,550 29,450 Common dividends 433,350 413,100 Total dividends paid 462.900 442,550 Net income retained 534,425 518,165 3,660,515 3,142,350 Retained earnings, beginning of year Retained earnings, end of year $4,194,940 $3,660,515 (a) Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020. (Round answer to 2 decimal places, e.g. 2.55.) Earning per share $ per share