At December 31,2021 and 2020, Sheridan Company had 187000 shares of common stock and 12700 shares of 6%,$100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020 . Net income for 2021 was $451000. For 2021, earnings per common share amounted to (rounded to the nearest penny) $1.60$1.73$2.40$2.00