Question: Ringemup, Inc., had net income of $473,400 for its fiscal year ended October 31, 2010. During the year the company had outstanding 38,000 shares of $4.50, $50 par value preferred stock, and 105,000 shares of common stock.
Required:
Calculate the basic earnings per share of common stock for fiscal 2010. (Round your answer to 2 decimal places).
Earnings per share: _________