114. At December 31, 2007 and 2006, Glass Corp. had 180,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2007 or 2006. Net income for 2007 was $400,000. For 2007, earnings per common share amounted to a. $2.22. b. $1.94. c. $1.67. d. $1.11