3.

Net income was $366,500 for the year. Throughout the year the company had outstanding 29,000 shares of $2.50, $50 par value preferred stock and 120,000 shares of common stock.

Required:

Calculate basic earnings per share of common stock for the year.

__________________________ _____________________

__________________________ _____________________

__________________________ _____________________

__________________________ _____________________

Earnings per basic-share: ______________________