Net income was $230,500 for the year. Throughout the year the company had outstanding 15,000 shares of $3.00, $50 par value preferred stock and 106,000 shares of common stock. Required: Calculate basic earnings per share of common stock for the year. (Round "Earnings per share-basic" to 2 decimal places.) Net income available for common stockholders $ 0 Number of common share outstanding Earnings per share-basic