Bonita Industries had 302000 shares of common stock issued and outstanding at December 31, 2020. During 2021, no additional common stock was issued. On January 1, 2021, Bonita issued 402000 shares of nonconvertible preferred stock. During 2021, Bonita declared and paid $175000 cash dividends on the common stock and $158000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2021, was $958000. What should be Bonita's 2021 earnings per common share, rounded to the nearest penny?

A) $3.17

B) $2.65

C) $2.07

D) $1.10