Berkson Hawthorn is a public company trading on the Toronto Stock Exchange. The company's shares are currently trading for $16.00 per share. Berkson just released the following information related to its 20X7 year-end: 20X7 20X6 Total assets $14,500,000 $13,250,000 Total liabilities $7,500,000 $6,750,000 Net income $762,500 $555,000 Preferred share $75,000 $65,000 dividends Average number of 100,000 100,000 common shares outstanding