Palace Loan Company’s balance sheet at December 31, 2018, reports the following:

During 2018, Palace Loan earned net income of $6,300,000. Calculate Palace Loan’s earnings per common share (EPS) for 2018. (Round EPS to two decimal places.) Assume the number of shares issued and outstanding did not change during the year.

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Preferred stock, $50 par value, 10%, 10,000 shares issued.. Common stock, $0.75 par, 1,000,000 shares issued. . Treasury stock, common, 80,000 shares at cost. $ 500,000 750,000 720,000 .......