ALT-EARNINGS PER SHARE Norton Corporation issued 2,300 shares of $50 par preferred stock at par. The preferred stock has a fixed dividend of 3.00%. The company also issued 400,000 shares of $4.00 par common stock, at par. The company earned revenue of $510,000 this year, and incurred expenses of $340,000. 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. (Note: on the EPS, there is a $.02 tolerance)