Hammer Time Company reported the following: - Income from continuing operations of $1,000,000 - Loss due to discontinued operations after tax of ($200,000) - Net Income of $800,000 The average number of shares of common stock outstanding for the year is 500,000 . In addition the company declared dividends on preferred stock of $40,000 and dividends on common stock of $60,000. Earnings per share on Net Income for Hammer Time equals: $1.60 $1.48 $1.40 $1.52 Hammer Time Company reported the following: - Income from continuing operations of $1,000,000 - Loss due to discontinued operations after tax of ($200,000) - Net Income of $800,000 The average number of shares of common stock outstanding for the year is 500,000 . In addition the company declared dividends on preferred stock of $40,000 and dividends on common stock of $60,000. Earnings per share on Net Income for Hammer Time equals: $1.60 $1.48 $1.40 $1.52