$3$ pts

At December $31,2020$ Rice Company had $300,000$ shares of common stock and $10,000$ shares of $6\%,$$$100$ par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in $2020$ or $2021.$ On January $30,2022,$ prior to the issuance of its financial statements for the year ended December $31,2021,$ Rice declared a $100\%$ stock dividend on its common stock. Net income for $2021$ was $$1,140,000.$ In its $2021$ financial statements, Rice's $2021$ earnings per common share should be

$$3\mathrm{.}60.$

$$3\mathrm{.}80.$

$$1\mathrm{.}89.$

$$1\mathrm{.}80.$