X Your answer is incorrect.

Sheffield Inc. presented the following data.

Net income

Preferred stock: $48,000$ shares outstanding, $$100$ par, $8\%$ cumulative, not convertible

$4,800,000$

Common stock: Shares outstanding $1/1$

$781,200$

Issued for cash, $5/1$

$307,200$

Acquired treasury stock for cash, $\frac{8}{1}$

$153,600$

$2-$for$-1$ stock split, $\frac{10}{1}$

Compute earnings per share. $($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earnings per share $