Walla Walla Inc. had 36,100 common shares on January 1, 2018. On May 1, 2,880 common shares were reacquired and retired. On August 31 and November 30, 9,720 and 5,640 common shares were issued, respectively. Walla Walla reported net income of $335,000. Walla Walla also had 10,100 $2 cumulative preferred shares, on which the dividend for the current year was declared and paid. Calculate the basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.)

Basic earnings per share

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