Nashville Corporation's board of directors declares a cash dividend of $0.85 per common share. The corporation has 100,000 shares of common stock authorized, 85,000 common shares issued and 5,000 common shares are currently in treasury. The total amount of the cash dividend payment is: $72,250 $80,000 $68,000 $85.000 Salt Lake City Inc. has 100,000 shares of $1 par value common stock outstanding. The board of directors declares a 5% stock dividend on the common stock when the market price of the stock was $15 per share. The total amount subtracted from retained earnings for the stock dividend is: $100,000 $5.000 $75.000 $1.500.000 For the year that just ended, Jackson Inc. reports net income of $360,000. There are 500,000 shares of common stock authorized, and 100,000 shares have been issued and are outstanding. During the year, Jackson paid $60,000 in dividends on its preferred stock and $30,000 in dividends on its common stock. Basic earnings per share reported by Jackson Inc. for the year just ended is: $3.60 per share. $0.72 per share. $3.00 per share $2.70 per share