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Sarasota Inc. presented the following data.


Net income$2,540,000Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible5,300,000Common stock: Shares outstanding 1/1686,400 Issued for cash, 5/1308,400 Acquired

Sale price $15.00 Regular price $30.00

Sarasota Inc. presented the following data.


Net income$2,540,000Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible5,300,000Common stock: Shares outstanding 1/1686,400 Issued for cash, 5/1308,400 Acquired treasury stock for cash, 8/1160,800 2-for-1 stock split, 10/1 earnings per share/? (Round answer to 2 decimal places, e.g. $2.55.)

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