On January

$1$

$,$

$2023$

$,$

$$Cullumber Ltd

$.$

$$had

$600$

$,$

$000$

$$common shares outstanding. During

$2023$

$,$

$$it had the following transactions that outstanding for the entire year.

affected the common share account:

Feb.

$1$

$$Issued

$200$

$,$

$000$

$$shares

Mar.

$1$

$$Issued a

$10$

$\%$

$$stock dividend

May

$1$

$$Acquired

$220$

$,$

$000$

$$common shares and retired them

June

$1$

$$Issued a

$3$

$-$

for

$-$

$1$

$$stock split

Oct.

$1$

$$Issued

$50$

$,$

$000$

$$sharesAssume that Cullumber earned net income of $$2,589,000$ during $2023.$ In addition, it had $110,000$ of $10\%,$$$100$ par, non$-$

convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations$,$ however, the company

did not declare and pay a preferred dividend in $2023.$

Calculate earnings per share for $2023$ using the weighted average number of shares determined above. $($Round answer to $2$

decimal places, e$.$g$.15\mathrm{.}25.)$

Earnings per share $

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