For 2014, Ganos Corporation reported net income $26,000; net sales $400,000; and average shares outstanding 4,000. There were preferred dividends of

$2,000. What was the 2014 earnings per share?

(a) $6.00.

(c) $99.50.

(b) $6.50.

(d) $100.00.

AppendixLO1