Waterway Inc. presented the following data. Net income $2,530,000 Preferred stock: 47,000 shares outstanding. $100 par, 8% cumulative, not convertible 4,700,000 Common stock: Shares outstanding 1/1 777,600 Issued for cash, 5/1 43 308,400 Acquired treasury stock for cash, 8/1 146,400 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, eg. $2.55.) *Earnings per share 2.34