5. Blanco, Inc. has a net income of $300,000 for 2017, and there are 200,000 weighted-average shares of common stock outstanding. Dividends declared and paid during the year amounted to $40,000 on the preferred stock and $60,000 on the common stock. The earnings per share for 2017 is a. $2.50. b. $1.20. c. $1.30. d. $1.00.