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Cullumber Inc. presented the following data. Net income $2,350,000 Preferred stock: 52,000 shares outstanding, $100 par,...

Cullumber Inc. presented the following data. Net income $2,350,000 Preferred stock: 52,000 shares outstanding, $100 par, 9% cumulative, not convertible 5,200,000 Common stock: Shares outstanding 1/1 686,400 Issued for cash, 5/1 270,000 Acquired treasury stock for cash, 8/1 148,800 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $enter earnings per share rounded to 2 decimal places

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