Sheridan Company had 305000 shares of common stock issued and outstanding at December 31, 2020. During 2021, no additional common stock was issued. On January 1, 2021, Sheridan issued 407000 shares of nonconvertible preferred stock. During 2021, Sheridan declared and paid $182000 cash dividends on the common stock and $147000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2021, was $954000. What should be Sheridan's 2021 earnings per common share, rounded to the nearest penny
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