14. On January 1, 2010, Libby Corporation had 18,000 shares of common stock outstanding, and reacquired 2,000 shares on July 1. The company earned net income of $110,800 and paid a cash dividend on its preferred stock of $36,000. The earnings per share for the year was 

A. $4.40

B. $5.54

C. $3.74

D. $4.6815. 

15. On January 1, 2010, Smith Company had 21,000 shares of common stock outstanding and issued an additional 4,500 shares on May 1. The company declared and paid a cash dividend of $30,000 and earned$330,000 net income. The earnings per share for the year was

A.$15.00

B.$13.75

C.$12.94

D.$12.50