ALT-EARNINGS PER SHARE Norton Corporation issued 10,000 shares of $50 par preferred stock at par. The preferred stock has a fixed dividend of 4.00%. The company also issued 500,000 shares of $4.00 par common stock, at par. The company earned revenue of $860,000 this year, and incurred expenses of $516,000.00 1 What is the balance of the preferred stock account? 2 What is the balance of the common stock account? 3 If a preferred dividend is declared, how much will it be? 4 What was the net income for the year? 5 Compute the EPS (Earnings Per Share) for the year