Waterway Inc. presented the following data.

Net income		$2,440,000
Preferred stock: 52,000 shares outstanding, $100 par, 8% cumulative, not convertible		5,200,000
Common stock: Shares outstanding 1/1		784,800
Issued for cash, 5/1		312,000
Acquired treasury stock for cash, 8/1		151,200
2-for-1 stock split, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share

$enter earnings per share rounded to 2 decimal places