A corporation had 250,000 shares of common stock outstanding on January 1. The financial manager of the corporation on September 30 is projecting net income of $750,000 for the current year. If the management of the corporation is planning on declaring a $55,000 preferred stock dividend and a 2-for-1 common stock split on December 31, earnings per common share on December 31 is expected to equal: *Source: Retired ICMA CMA Exam Questions. $1.39. $1.50. $2.78. $3.00