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In 2015, Esther Corporation reported net income of $650,000. It declared and paid preferred stock dividends of $50,000 and common stock dividends of $60,000. During

In 2015, Esther Corporation reported net income of $650,000. It declared and paid preferred stock dividends of $50,000 and common stock dividends of $60,000. During 2015, Esther had a weighted average of 150,000 common shares outstanding. Compute Esther's 2015 earnings per share.

a.

$1.95

b.

$4.00

c.

$5.00

d.

None of the above.

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