A corporation reports the following balances and amounts Accounts payable, $35,000 Cash provided by operations, $90,000 Accounts receivable, $37,500 Net income, $36,000 Average number of common shares, 20,000 Salaries and wages payable, $8,000 Average current liabilities, $110,000 Stockholders’ equity, $240,000 Average total assets, $600,000 Current assets, $300,000 Average total liabilities, $320,000 Current liabilities, $120,000 Dividends paid to preferred shareholders, $10,000 Determine its earnings per share?