Crystal Arts Inc. had earnings of $551 100 for 2016. The company had 46 000 shares of common stock outstanding during the year. In addition the company issued 2 500 shares of $150 par value preferred stock on January 3 2016. The preferred stock has a dividend of $7 per share. There were no transactions in either common or preferred stock during 2016.Determine the basic earnings per share for Crystal Arts. Round answer to two decimal places.$per share
