Cullumber Corporation had 2020 net income of $1,098,000. During 2020, Cullumber paid a dividend of $2 per share on 265,500 shares of preferred stock. During 2020, Cullumber had outstanding 189,000 shares of common stock. Compute Cullumber’s 2020 earnings per share. (Round answer to 2 decimal places, e. g. 3.56.) Earnings per share

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.