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At January 1,2025, Kingbird Company's outstanding shares included the following. 267,000 shares of...

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Accounting

At January 1,2025, Kingbird Company's outstanding shares included the following.
267,000 shares of $50 par value, 7% cumulative preferred stock
867,000 shares of $1 par value common stock
Net income for 2025 was $2,564,000. No cash dividends were declared or paid during 2025. On February 15,2026, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2025.
On April 1,2025,436,000 shares of common stock were sold for $10 per share, and on October 1,2025,102,000 shares of common stock were purchased for $19 per share and held as treasury stock.
Compute earnings per share for 2025. Assume that financial statements for 2025 were issued in March 2026.(Round answer to 2 decimal places, e.g.2.55.)
Earnings per share $
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