At December 31, 2019 and 2020, Danish Corp. had 100,000 common shares and 10,000, $5, no par value cumulative preferred shares outstanding. No dividends were declared in 2019 or 2020. Net income for 2020 was $400,000.

For 2020, basic earnings per share would be:

$3.50.

$3.00.

$2.00.

$4.00.