Financial statements for Larned Company appear below: Larned Company Statement of Financial Position December 31, 19X6 and 19X5 (dollars in thousands) 19X6 19X5 Current assets: Cash and marketable securities $ 130 $ 100 Accounts receivable, net 150 130 Inventory 100 100 Prepaid expenses 20 20 Total current assets 400 350 Noncurrent assets: Plant & equipment, net 1,640 1,600 Total assets $2,040 $1,950 Current liabilities: Accounts payable $ 120 $ 120 Accrued liabilities 110 80 Notes payable, short term 170 160 Total current liabilities 400 360 Noncurrent liabilities: Bonds payable 370 400 Total liabilities 770 760 Stockholders' equity: Preferred stock, $20 par, 10% 120 120 Common stock, $10 par 180 180 Additional paid-in capital--common stock 110 110 Retained earnings 860 780 Total stockholders' equity 1,270 1,190 Total liabilities & stockholders' equity $2,040 $1,950 Larned Company Income Statement For the Year Ended December 31, 19X6 (dollars in thousands) Sales (all on account) $2,930 Cost of goods sold 2,050 Gross margin 880 Operating expenses 350 Net operating income 530 Interest expense 40 Net income before taxes 490 Income taxes (30%) 147 Net income $ 343 Dividends during 19X6 totalled $263 thousand, of which $12 thousand were preferred dividends. The market price of a share of common stock on December 31, 19X6 was $160. Larned Company's earnings per share of common stock for 19X6 was closest to: a.$18.39 b.$27.22 c.$19.06 d.$11.03