16. At December 31, 2025, Ruiz SA had 600,000 ordinary shares issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 200,000 of which were issued on October 1, 2025. Net income for 2025 was R$1,750,000, and dividends declared on preference shares were R$400,000. Compute Ruiz’s earnings per ordinary share.