Exercise 11-20 (Algo) Computing earnings per share LO A1 Ecker Company reports $1,600,000 of net income and Zeclares $224,000 of cash dividends on its preferred stock for the year. At year-end, the company had 260,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders? 2. What is the company's basic eamings per share (EPS)