On D ber 31, 2020, Berc Co, had 198,000 shares of common stock and 5,000 shares 8%, $100 par value preferred stock issued and outstanding. Berc purchased 30,000 shares of its common stock as treasury stock on May 1, 2021, and 8,000 treasury shares were sold on October 1, 2021. Net income for 2021 was $166,000. Berc's basic earnings per share for 2021 was: $0.86 $0.70 $0.78 Torti