Using the data in Exercise 13-23, determine the earnings per share for Apple Gardens Limited for 2015, assuming Apple Gardens has 400,000 $1.25 preferred shares and 1,250,000 common shares outstanding for the entire fiscal year.

In Exercise 13-23

Apple Gardens Limited sells orchard supplies. In 2015, the company earned $1,346,000 from its Okanagan location and experienced a loss of $467,000 from the sale of its Ontario division (before taxes).