Beck Incorporation reported a net income of $450,000 for the year 2013. It declared and paid dividends of $75,000 to its preferred stockholders and $50,000 to its common stockholders. During the year, Beck had an average of 100,000 common shares outstanding. Compute Beck's earnings per share for the year 2013.

A. $4.50 per share B. $4.00 per share C. $3.75 per share D. $3.25 per share

Show your work; points will be awarded only if process to solve is shown.