On January $1,2026,$ Oriole Corp. had $459,000$ shares of common stock outstanding. During $2026,$ it had the following transactions that affected the common stock account.

February $1$ Issued $123,000$ shares

March $1,$ Issued a $10\%$ stock dividend

May $1$ Acquired $101,000$ shares of treasury stock

June $1,$ Issued a $3-$for$-1$ stock split

October $1$ Reissued $57,000$ shares of treasury stock

$($a$).$

$($b$)$

Assume that Oriole Corp. earned net income of $$3,577,000$ during $2026.$ In addition, it had $101,000$ shares of $9\%,$$$100$ par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in $2026.$ Compute earnings per share for $2026,$ using the weighted$-$average number of shares determined in part $($a$).($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Earnings per share $