Multiple Choice Question 119 The income statement for Manassa Inc. shows income before income taxes $1,600,000, income tax expenses $820,000, and net income $780,000. If Manassa declared $300,000 of cash dividends on preferred stock and has 200,000 shares of common stock outstanding throughout the year, earnings per share is: $1.50 $2.40 $3.90 $8.00 Click if you would like to Show Work for this question: Open Show Work