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The following data came from the financial statements of St. James Corp. for 2019 and 2018.
2019 2018
Net income $143,900 $120,000
Cash dividends paid on preferred stock $15,000 $15,000
Cash dividends paid on common stock $42,000 $38,000
Weighted average number of preferred shares outstanding 20,000 20,000
Weighted average number of common shares outstanding 105,000 95,000
Required: Calculate St. James' earnings per share as it would be reported on the 2019 income statement. Round your answer to the nearest cent.
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