At January 1, 2022, Cameron Company’s outstanding shares included the following. 

280,000 shares of R$50 par value, 7% cumulative preference shares 

800,000 shares of R$1 par value ordinary shares 

Net income for 2022 was R$2,830,000. No cash dividends were declared or paid during 2022. On February 15, 2023, however, all preference dividends in arrears were paid, together with a 5% share dividend on ordinary shares. There were no dividends in arrears prior to 2022.

On April 1, 2022, 450,000 ordinary shares were sold for R$10 per share. On October 1, 2022, 110,000 ordinary shares were purchased for R$20 per share and held as treasury shares.

Instructions

Compute earnings per share for 2022. Assume that financial statements for 2022 were issued in March 2023.