Gaston Inc. had the following information as of 12/31/2016. Common stock outstanding: $4,000,000 (100,000 shares), $80,000 preferred stock (20,0000 shares). During 2016, Gaston declared and paid a preferred cash dividend of $6,000 and a common cash dividend of $40,000. Net Income for 2016 was $1,250,000. At 1/1/2016 there was $3,200,000 (80,000 shares) of common stock outstanding and $20,000 (5,000 shares) of preferred stock outstanding. Calculate 2016 Earnings Per Share