At December 31, 2016 and 2015, G Co. had 50,000 shares of common stock and 5,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2016 or 2015. Net income for 2016 was $500,000. For 2016, basic earnings per common share amounted to:

$5.00.

$9.50.

$9.00.

$10.00.