Assume that the following data relative to Wildhorse Company for 2021 is available: Net Income $2,890,000 Transactions in Common Shares Change Cumulative Jan. 1, 2021, Beginning number 740,000 Mar. 1, 2021, Purchase of treasury shares (72,000) 668,000 June 1, 2021, Stock split 2-1 668,000 1,336,000 Nov. 1, 2021, Issuance of shares 222,000 1,558,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 180,000 shares of common (adjusted for split). Stock Options Exercisable at the option price of $25 per share. Average market price in 2021, $30 (market price and option price adjusted for split). $900,000 90,000 shares