Kelley Company reports $$960,000$ of net income and declares $$120,000$ of cash dividends on its preferred stock for the year. At yearend, the company had $400,000$ weighted$-$average shares of common stock.

What is the company's basic earnings per share $($EPS$)?$

In the prior year, Kelley had a basic earnings per share $($EPS$)$ of $$1\mathrm{.}90.$ Did Kelly improve its earnings per share $($EPS$)$ in the current year?

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What is the company's basic earnings per share $($EPS$)?$

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