Bellevue Ltd. reported profit of $860,000 for its year ended December 31, 2017. Calculate earnings per share given the following additional information at December 31, 2017:

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Preferred shares, $2 cumulative, 50,000 shares authorized; 26,000 shares issued and outstanding......... Common shares, 300,000 shares authorized, 160,000 shares issued and outstanding* Retained earnings**.. *There was no change in the outstanding shares during the year. **Dividends totalling $100,000 were declared during 2017. There were no dividends in arrears. ********** $286,000 544,000 180,000